Attached files
| file | filename |
|---|---|
| EX-10.69 - AMENDMENT TO THE PEPSICO INTERNATIONAL RETIREMENT PLANS - PEPSICO INC | pepsico201510-kexhibit1069.htm |
| EX-31 - CERTIFICATION OF CEO AND CFO PURSUANT TO SECTION 302 - PEPSICO INC | pepsico201510-kexhibit31.htm |
| EX-32 - CERTIFICATION OF CEO AND CFO PURSUANT TO SECTION 906 - PEPSICO INC | pepsico201510-kexhibit32.htm |
| EX-21 - SUBSIDIARIES OF PEPSICO, INC - PEPSICO INC | pepsico201510-kexhibit21.htm |
| EX-24 - POWER OF ATTORNEY - PEPSICO INC | pepsico201510-kexhibit24.htm |
| EX-23 - CONSENT OF KPMG LLP - PEPSICO INC | pepsico201510-kxexhibit23.htm |
| 10-K - FORM 10-K - PEPSICO INC | pepsico201510-k.htm |
EXHIBIT 12
PEPSICO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
Years Ended December 26, 2015, December 27, 2014, December 28, 2013, December 29, 2012 and
December 31, 2011
(in millions except ratio amounts)
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes(a) | $ | 7,442 | $ | 8,757 | $ | 8,891 | $ | 8,304 | $ | 8,834 | ||||||||||
Unconsolidated affiliates’ interests, net | (71 | ) | (115 | ) | (25 | ) | (34 | ) | (30 | ) | ||||||||||
Amortization of capitalized interest | 6 | 6 | 5 | 2 | 3 | |||||||||||||||
Interest expense(b) | 970 | 909 | 911 | 899 | 856 | |||||||||||||||
Interest portion of rent expense(c) | 232 | 236 | 213 | 194 | 196 | |||||||||||||||
Earnings available for fixed charges | $ | 8,579 | $ | 9,793 | $ | 9,995 | $ | 9,365 | $ | 9,859 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense(a) | $ | 970 | $ | 909 | $ | 911 | $ | 899 | $ | 856 | ||||||||||
Capitalized interest | 8 | 9 | 7 | 5 | 10 | |||||||||||||||
Interest portion of rent expense(c) | 232 | 236 | 213 | 194 | 196 | |||||||||||||||
Total fixed charges | $ | 1,210 | $ | 1,154 | $ | 1,131 | $ | 1,098 | $ | 1,062 | ||||||||||
Ratio of Earnings to Fixed Charges(d) | 7.09 | 8.49 | 8.84 | 8.53 | 9.29 | |||||||||||||||
(a) | Income before income taxes for 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. |