Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - PEPSICO INC | pepsicoq3-10xq932016.htm |
| EX-32 - CERTIFICATIONS OF CEO AND CFO PURSUANT TO SECTION 906 - PEPSICO INC | exhibit32-932016.htm |
| EX-31 - CERTIFICATIONS OF CEO AND CFO PURSUANT TO SECTION 302 - PEPSICO INC | exhibit31-932016.htm |
| EX-15 - LETTER RE: UNAUDITED INTERIM FINANCIAL INFORMATION - PEPSICO INC | exhibit15-932016.htm |
EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
PepsiCo, Inc. and Subsidiaries
(in millions except ratio amounts, unaudited)
36 Weeks Ended | ||||||||
9/3/2016 | 9/5/2015 | |||||||
Earnings: | ||||||||
Income before income taxes (a) | $ | 6,722 | $ | 5,491 | ||||
Unconsolidated affiliates’ interests, net | (69 | ) | (76 | ) | ||||
Amortization of capitalized interest | 4 | 5 | ||||||
Interest expense (b) | 748 | 653 | ||||||
Interest portion of rent expense (c) | 161 | 162 | ||||||
Earnings available for fixed charges | $ | 7,566 | $ | 6,235 | ||||
Fixed Charges: | ||||||||
Interest expense (b) | $ | 748 | $ | 653 | ||||
Capitalized interest | 6 | 5 | ||||||
Interest portion of rent expense (c) | 161 | 162 | ||||||
Total fixed charges | $ | 915 | $ | 820 | ||||
Ratio of Earnings to Fixed Charges (d) | 8.27 | 7.60 | ||||||
(a) | Income before income taxes for the 36 weeks ended September 5, 2015 included a pre-tax charge of $1.4 billion related to our change in accounting for our investments in our wholly-owned Venezuelan subsidiaries and 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. |