Attached files
| file | filename |
|---|---|
| EX-1.1 - EX-1.1 - KELLOGG CO | d173334dex11.htm |
| 8-K - 8-K - KELLOGG CO | d173334d8k.htm |
Exhibit 12.1
Kellogg Company
Computation of Ratio of Earnings to Fixed Charges
| Fiscal Year Ended | ||||||||||||||||||||||||
| (dollars in millions) | October 1, 2015 |
January 2, 2016 |
January 3, 2015 |
December 28, 2013 |
December 29, 2012 |
December 31, 2011 |
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| Fixed charges: |
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| Interest expense, prior to amounts capitalized |
$ | 345 | $ | 231 | $ | 214 | $ | 237 | $ | 263 | $ | 237 | ||||||||||||
| Interest included in interest expense not related to third part)’ indebtedness (interest on uncertain tax positions) |
1 | — | (3 | ) | (4 | ) | (4 | ) | 3 | |||||||||||||||
| Portions of rental expense representing interest |
45 | 63 | 59 | 58 | 58 | 55 | ||||||||||||||||||
| Less: interest expense related to the early redemption of long-term debt |
(153 | ) | — | 7 | — | — | — | |||||||||||||||||
| Total fixed charges (B) |
$ | 238 | $ | 294 | $ | 277 | $ | 291 | $ | 317 | $ | 295 | ||||||||||||
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| Earnings before income taxes |
$ | 961 | $ | 773 | $ | 825 | $ | 2,606 | $ | 1,325 | $ | 1,184 | ||||||||||||
| Fixed charges |
238 | 294 | 277 | 291 | 317 | 295 | ||||||||||||||||||
| Interest on uncertain tax positions included in pre-tax income |
(1 | ) | — | 3 | 4 | 4 | (3 | ) | ||||||||||||||||
| Amortization of capitalized interest |
2 | 3 | 3 | 3 | 5 | 5 | ||||||||||||||||||
| Less: interest capitalized |
(3 | ) | (4 | ) | (5 | ) | (3 | ) | (2 | ) | (5 | ) | ||||||||||||
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| Earnings before income taxes and fixed charges (A) |
$ | 1,197 | $ | 1,066 | $ | 1,103 | $ | 2,901 | $ | 1,649 | $ | 1,476 | ||||||||||||
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| Ratio of earnings to fixed charges (A/B) |
5.0 | 3.6 | 4.0 | 10.0 | 5.2 | 5.0 | ||||||||||||||||||