EX-12 3 ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 H. J. HEINZ COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Fiscal Years Ended -------------------------------------------------------------- May 3, April 28, April 29, April 30, May 1, 2000 1999 1998 1997 1996 (53 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) ---------- ---------- ---------- ---------- ---------- Fixed Charges: Interest expense*............ $ 271,597 $ 260,743 $ 260,401 $277,818 $ 279,368 Capitalized interest......... -- -- 1,542 2,688 1,007 Interest component of rental expense................... 32,274 29,926 30,828 27,382 26,728 ---------- ---------- ---------- -------- ---------- Total fixed charges....... $ 303,871 $ 290,669 $ 292,771 $307,888 $ 307,103 ---------- ---------- ---------- -------- ---------- Earnings: Income before income taxes... $1,463,676 $ 835,131 $1,254,981 $479,064 $1,023,661 Add: Interest expense*....... 271,597 260,743 260,401 277,818 279,368 Add: Interest component of rental expense............ 32,274 29,926 30,828 27,382 26,728 Add: Amortization of capitalized interest...... 2,799 3,050 3,525 3,454 3,399 ---------- ---------- ---------- -------- ---------- Earnings as adjusted...... $1,770,346 $1,128,850 $1,549,735 $787,718 $1,333,156 ---------- ---------- ---------- -------- ---------- Ratio of earnings to fixed charges................... 5.83 3.88 5.29 2.56 4.34 ========== ========== ========== ======== ==========
* Interest expense includes amortization of debt expense and any discount or premium relating to indebtedness.