SYSCO CORP - FORM 10-K - EX-12.1 - EXHIBIT 12.1

file	filename
EX-31.2 - EXHIBIT 31.2 - SYSCO CORP	exhibit312a31332cfocertsec.htm
EX-32.2 - EXHIBIT 32.2 - SYSCO CORP	exhibit322a31334cfocertsec.htm
EX-32.1 - EXHIBIT 32.1 - SYSCO CORP	exhibit321a31333ceocertsec.htm
EX-31.1 - EXHIBIT 31.1 - SYSCO CORP	exhibit311a31331ceocertsec.htm
EX-23.1 - EXHIBIT 23.1 - SYSCO CORP	exhibit231a3136consent-q42.htm
EX-21.1 - EXHIBIT 21.1 - SYSCO CORP	exhibit211subisidariesofth.htm
EX-10.54 - EXHIBIT 10.54 - SYSCO CORP	exhibit1054-finalxceoretir.htm
EX-10.52 - EXHIBIT 10.52 - SYSCO CORP	exhibit1052-summaryofcompe.htm
EX-10.30 - EXHIBIT 10.30 - SYSCO CORP	exhibit1030-amendment2017x.htm
EX-10.06 - EXHIBIT 10.06 - SYSCO CORP	exhibit1006-boadealeragree.htm
EX-10.05 - EXHIBIT 10.05 - SYSCO CORP	exhibit1005-wellsfargodeal.htm
10-K - 10-K - SYSCO CORP	syy201710-k.htm

Exhibit 12.1



COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Fiscal Year
(dollars in thousands)	July 1, 2017		July 2, 2016 ⁽²⁾		June 27, 2015		June 28, 2014		June 29, 2013
Earnings before income taxes	$	1,766,230	$	1,433,007	$	1,008,147	$	1,475,624	$	1,547,455
Add: Fixed charges	348,619		339,358		281,756		147,922		153,840
Subtract: Capitalized interest	2,038		2,032		866		1,097		4,242
Total	$	2,112,811	$	1,770,333	$	1,289,037	$	1,622,449	$	1,697,053

Fixed Charges:
Interest expense	$	302,878	$	306,146	$	254,807	$	123,741	$	128,495
Capitalized interest	2,038		2,032		866		1,097		4,242
Rent expense interest factor	43,703		31,180		26,083		23,084		21,103
Total	$	348,619	$	339,358	$	281,756	$	147,922	$	153,840

Ratio of earnings to fixed charges ⁽¹⁾	6.1		5.2		4.6		11.0		11.0

(1) For the purpose of calculating this ratio, “earnings” consist of earnings before income taxes and fixed charges (exclusive of interest capitalized). “Fixed charges” consist of interest expense, capitalized interest and the estimated interest portion of rents.
(2) The fiscal year ended July 2, 2016 was a 53-week year.

SYSCO CORP - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - August 29, 2017