EX-12 2 j8536301ex12.txt COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGE 1 EXHIBIT 12 H. J. HEINZ COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Six Months Ended Fiscal Years Ended ----------- -------------------------------------------------------------- May 3, April 28, April 29, April 30, May 1, November 1, 2000 1999 1998 1997 1996 2000 (53 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) ----------- ---------- ---------- ---------- ---------- ---------- Fixed Charges: Interest expense*.......... $163,939 $ 271,597 $ 260,743 $ 260,401 $ 277,818 $ 279,368 Capitalized interest....... 4,633 -- -- 1,542 2,688 1,007 Interest component of rental expense........... 14,306 32,274 29,926 30,828 27,382 26,728 -------- ---------- ---------- ---------- ---------- ---------- Total fixed charges...... $182,878 $ 303,871 $ 290,669 $ 292,771 $ 307,888 $ 307,103 -------- ---------- ---------- ---------- ---------- ---------- Earnings: Income before income taxes.................... $598,511 $1,463,676 $ 835,131 $1,254,981 $ 479,064 $1,023,661 Add: Interest expense*..... 163,939 271,597 260,743 260,401 277,818 279,368 Add: Interest component of rental expense........... 14,306 32,274 29,926 30,828 27,382 26,728 Add: Amortization of capitalized interest..... 1,312 2,799 3,050 3,525 3,454 3,399 -------- ---------- ---------- ---------- ---------- ---------- Earnings as adjusted..... $778,068 $1,770,346 $1,128,850 $1,549,735 $ 787,718 $1,333,156 -------- ---------- ---------- ---------- ---------- ---------- Ratio of earnings to fixed charges.................. 4.25 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.