EX-12 9 j9491701exv12.txt RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 H. J. HEINZ COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Fiscal Years Ended -------------------------------------------------------------- May 1, May 2, May 3, April 28, April 29, 2002 2001 2000 1999 1998 (52 Weeks) (52 Weeks) (53 Weeks) (52 Weeks) (52 Weeks) ---------- ---------- ---------- ---------- ---------- Fixed Charges: Interest expense*........... $ 297,315 $ 335,531 $ 271,597 $ 260,743 $ 260,401 Capitalized interest........ 48 8,396 -- -- 1,542 Interest component of rental expense.................. 32,315 28,096 32,274 29,926 30,828 ---------- ---------- ---------- ---------- ---------- Total fixed charges...... $ 329,678 $ 372,023 $ 303,871 $ 290,669 $ 292,771 ---------- ---------- ---------- ---------- ---------- Earnings: Income before income taxes.. $1,278,590 $ 673,058 $1,463,676 $ 835,131 $1,254,981 Add: Interest expense*...... 297,315 335,531 271,597 260,743 260,401 Add: Interest component of rental expense........... 32,315 28,096 32,274 29,926 30,828 Add: Amortization of capitalized interest..... 1,862 2,129 2,799 3,050 3,525 ---------- ---------- ---------- ---------- ---------- Earnings as adjusted..... $1,610,082 $1,038,814 $1,770,346 $1,128,850 $1,549,735 ---------- ---------- ---------- ---------- ---------- Ratio of earnings to fixed charges.................. 4.88 2.79 5.83 3.88 5.29 ========== ========== ========== ========== ==========
* Interest expense includes amortization of debt expense and any discount or premium relating to indebtedness.