EX-12.1 4 nov2502_ex1201.txt EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES H. J. Heinz Finance Company and Subsidiaries Fiscal Years Ended --------------------------------------------------------------------------------------- Three Months Ended May 1, 2002 May 2, 2001 May 3, 2000 April 28, 1999 April 29, 1998 July 31, 2002 (52 Weeks) (52 Weeks) (53 Weeks) (52 Weeks) (52 Weeks) ------------- ----------- ----------- ----------- -------------- -------------- Fixed Charges: Interest expense* $ 51,890 $ 206,578 $ 10,278 $ 7,138 $ 6,266 $ 7,621 Capitalized interest - - 2,074 - - - Interest components of rental expense 3,152 12,729 11,814 8,189 7,869 10,112 ---------- ---------- --------- --------- --------- ---------- Total fixed charges $ 55,042 $ 219,307 $ 24,166 $ 15,327 $ 14,135 $ 17,733 ---------- ---------- --------- --------- --------- ---------- Earnings: Income before income taxes and minority interest $ 76,856 $ 565,675 $ 517,467 $ 700,539 $ 688,519 $ 762,394 Add: Interest expense* 51,890 206,578 10,278 7,138 6,266 7,621 Add: Interest component of rental expense 3,152 12,729 11,814 8,189 7,869 10,112 Add: Amortization of capitalized interest - 128 715 715 715 898 ---------- ---------- --------- --------- --------- ---------- Earnings as adjusted $ 131,898 $ 785,110 $ 540,274 $ 716,581 $ 703,369 $ 781,025 ---------- ---------- --------- --------- --------- ---------- Ratio of earnings to fixed charges 2.40 3.58 22.36 46.75 49.76 44.04 ========== ========== ========= ========= ========= ==========
* Interest expense includes amortization of debt expense and any discount or premium relating to indebtedness.