Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - KELLOGG CO | d569256d8k.htm |
| EX-1.1 - EX-1.1 - KELLOGG CO | d569256dex11.htm |
Exhibit 12.1
Kellogg Company
Computation of Ratio of Earnings to Fixed Charges
| Three Months Ended March 31, 2018 |
Fiscal Year Ended | |||||||||||||||||||||||
| (dollars in millions) |
December 30, 2017 |
December 31, 2016 |
January 2, 2016 |
January 3, 2015 |
December 28, 2013 |
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| Fixed charges: |
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| Interest expense, prior to amounts capitalized |
$ | 70 | $ | 260 | $ | 410 | $ | 231 | $ | 214 | $ | 237 | ||||||||||||
| Interest included in interest expense not related to third party indebtedness (interest on uncertain tax positions) |
(3 | ) | (2 | ) | (2 | ) | — | (3 | ) | (4 | ) | |||||||||||||
| Portions of rental expense representing interest |
12 | 48 | 59 | 63 | 59 | 58 | ||||||||||||||||||
| Less: interest expense related to the early redemption of long-term debt |
— | — | (153 | ) | — | 7 | — | |||||||||||||||||
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| Total fixed charges (B) |
$ | 79 | $ | 306 | $ | 314 | $ | 294 | $ | 277 | $ | 291 | ||||||||||||
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| Earnings before income taxes |
$ | 511 | $ | 1,674 | $ | 927 | $ | 773 | $ | 825 | $ | 2,606 | ||||||||||||
| Fixed charges |
79 | 306 | 314 | 294 | 277 | 291 | ||||||||||||||||||
| Interest on uncertain tax positions included in pre-tax income |
3 | 2 | 2 | — | 3 | 4 | ||||||||||||||||||
| Amortization of capitalized interest |
1 | 3 | 3 | 3 | 3 | 3 | ||||||||||||||||||
| Less: interest capitalized |
— | (4 | ) | (4 | ) | (4 | ) | (5 | ) | (3 | ) | |||||||||||||
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| Earnings before income taxes and fixed charges (A) |
$ | 594 | $ | 1,981 | $ | 1,242 | $ | 1,066 | 1,103 | $ | 2,901 | |||||||||||||
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| Ratio of earnings to fixed charges (A/B) |
7.5 | 6.5 | 4.0 | 3.6 | 4.0 | 10.0 | ||||||||||||||||||