EX-12 5 j8930801ex12.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
Fiscal Years Ended -------------------------------------------------------------- May 2, May 3, April 28, April 29, April 30, 2001 2000 1999 1998 1997 (52 Weeks) (53 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) ---------- ---------- ---------- ---------- ---------- Fixed Charges: Interest expense*............ $ 335,531 $ 271,597 $ 260,743 $ 260,401 $277,818 Capitalized interest......... 8,396 -- -- 1,542 2,688 Interest component of rental expense................... 28,096 32,274 29,926 30,828 27,382 ---------- ---------- ---------- ---------- -------- Total fixed charges....... $ 372,023 $ 303,871 $ 290,669 $ 292,771 $307,888 ---------- ---------- ---------- ---------- -------- Earnings: Income before income taxes... $ 673,058 $1,463,676 $ 835,131 $1,254,981 $479,064 Add: Interest expense*....... 335,531 271,597 260,743 260,401 277,818 Add: Interest component of rental expense............ 28,096 32,274 29,926 30,828 27,382 Add: Amortization of capitalized interest...... 2,129 2,799 3,050 3,525 3,454 ---------- ---------- ---------- ---------- -------- Earnings as adjusted...... $1,038,814 $1,770,346 $1,128,850 $1,549,735 $787,718 ---------- ---------- ---------- ---------- -------- Ratio of earnings to fixed charges................... 2.79 5.83 3.88 5.29 2.56 ========== ========== ========== ========== ========
* Interest expense includes amortization of debt expense and any discount or premium relating to indebtedness.