EX-12 4 j9019701ex12.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
First Quarter Ended Fiscal Years Ended ------------- -------------------------------------------------------------- May 2, May 3, April 28, April 29, April 30, August 1, 2001 2000 1999 1998 1997 2001 (52 Weeks) (53 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) ------------- ---------- ---------- ---------- ---------- ---------- Fixed Charges: Interest expense*.......................... $ 78,215 $ 335,531 $ 271,597 $ 260,743 $ 260,401 $ 277,818 Capitalized interest....................... 479 8,396 -- -- 1,542 2,688 Interest component of rental expense....... 6,153 28,096 32,274 29,926 30,828 27,382 -------- ---------- ---------- ---------- ---------- ---------- Total fixed charges...................... $ 84,847 $ 372,023 $ 303,871 $ 290,669 $ 292,771 $ 307,888 -------- ---------- ---------- ---------- ---------- ---------- Earnings: Income before income taxes................. $312,207 $ 673,058 $1,463,676 $ 835,131 $1,254,981 $ 479,064 Add: Interest expense*..................... 78,215 335,531 271,597 260,743 260,401 277,818 Add: Interest component of rental expense.................................. 6,153 28,096 32,274 29,926 30,828 27,382 Add: Amortization of capitalized interest................................. 531 2,129 2,799 3,050 3,525 3,454 -------- ---------- ---------- ---------- ---------- ---------- Earnings as adjusted..................... $397,106 $1,038,814 $1,770,346 $1,128,850 $1,549,735 $ 787,718 -------- ---------- ---------- ---------- ---------- ---------- Ratio of earnings to fixed charges......... 4.68 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.