EX-12 3 j8697701ex12.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 H. J. HEINZ COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Nine Months Ended Fiscal Years Ended ------------- -------------------------------------------------------------- May 3, April 28, April 29, April 30, May 1, January 31, 2000 1999 1998 1997 1996 2001 (53 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) ------------- ---------- ---------- ---------- ---------- ---------- Fixed Charges: Interest expense*.......................... $ 251,204 $ 271,597 $ 260,743 $ 260,401 $ 277,818 $ 279,368 Capitalized interest....................... 7,392 -- -- 1,542 2,688 1,007 Interest component of rental expense....... 19,978 32,274 29,926 30,828 27,382 26,728 ---------- ---------- ---------- ---------- ---------- ---------- Total fixed charges...................... $ 278,574 $ 303,871 $ 290,669 $ 292,771 $ 307,888 $ 307,103 ---------- ---------- ---------- ---------- ---------- ---------- Earnings: Income before income taxes................. $ 874,950 $1,463,676 $ 835,131 $1,254,981 $ 479,064 $1,023,661 Add: Interest expense*..................... 251,204 271,597 260,743 260,401 277,818 279,368 Add: Interest component of rental expense.................................. 19,978 32,274 29,926 30,828 27,382 26,728 Add: Amortization of capitalized interest................................. 1,673 2,799 3,050 3,525 3,454 3,399 ---------- ---------- ---------- ---------- ---------- ---------- Earnings as adjusted..................... $1,147,805 $1,770,346 $1,128,850 $1,549,735 $ 787,718 $1,333,156 ---------- ---------- ---------- ---------- ---------- ---------- Ratio of earnings to fixed charges......... 4.12 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.