Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - PEPSICO INC | pepsicoq3-10xq952015.htm |
| EX-32 - CERTIFICATIONS OF CEO AND CFO PURSUANT TO SECTION 906 - PEPSICO INC | exhibit32-952015.htm |
| EX-15 - LETTER RE: UNAUDITED INTERIM FINANCIAL INFORMATION - PEPSICO INC | exhibit15-952015.htm |
| EX-31 - CERTIFICATIONS OF CEO AND CFO PURSUANT TO SECTION 302 - PEPSICO INC | exhibit31-952015.htm |
EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
PepsiCo, Inc. and Subsidiaries
(in millions except ratio amounts, unaudited)
36 Weeks Ended | ||||||||
9/5/2015 | 9/6/2014 | |||||||
Earnings: | ||||||||
Income before income taxes (a) | $ | 5,491 | $ | 6,976 | ||||
Unconsolidated affiliates’ interests, net | (76 | ) | (100 | ) | ||||
Amortization of capitalized interest | 5 | 4 | ||||||
Interest expense (b) | 653 | 625 | ||||||
Interest portion of rent expense (c) | 162 | 157 | ||||||
Earnings available for fixed charges | $ | 6,235 | $ | 7,662 | ||||
Fixed Charges: | ||||||||
Interest expense (b) | $ | 653 | $ | 625 | ||||
Capitalized interest | 5 | 5 | ||||||
Interest portion of rent expense (c) | 162 | 157 | ||||||
Total fixed charges | $ | 820 | $ | 787 | ||||
Ratio of Earnings to Fixed Charges (d) | 7.60 | 9.73 | ||||||
(a) Income before income taxes for the 12 and 36 weeks ended September 5, 2015 includes a pre-tax charge of $1.4 billion related to our change in accounting for our investments in our wholly-owned Venezuelan subsidiaries and our beverage joint venture.
(b) Excludes interest related to our reserves for income taxes as such interest is included in provision for income taxes and includes net amortization of debt premium/discount.
(c) One-third of rent expense is the portion deemed representative of the interest factor.
(d) Based on unrounded amounts.