EX-12 2 j0696301exv12.txt COMPUTATION OF RATIOS . . . EXHIBIT 12 H. J. HEINZ COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
FISCAL YEARS ENDED -------------------------------------------------------------- APRIL 28, APRIL 30, MAY 1, MAY 2, MAY 3, 2004 2003 2002 2001 2000 (52 WEEKS) (52 WEEKS) (52 WEEKS) (52 WEEKS) (53 WEEKS) ---------- ---------- ---------- ---------- ---------- Fixed Charges: Interest expense(a) ..... $ 215,563 $ 226,152 $ 233,657 $ 265,062 $ 208,845 Capitalized interest .... -- -- 48 8,239 -- Interest component of rental expense ........ 33,276 27,666 28,217 26,344 29,054 ---------- ---------- ---------- ---------- ---------- Total fixed charges ... $ 248,839 $ 253,818 $ 261,922 $ 299,645 $ 237,899 ---------- ---------- ---------- ---------- ---------- Earnings: Income from continuing operations before income taxes and effect of change in accounting principle ............. $1,168,551 $ 868,731 $1,050,520 $ 754,426 $1,288,691 Add: Interest expense(a) ............ 215,563 226,152 233,657 265,062 208,845 Add: Interest component of rental expense ........ 33,276 27,666 28,217 26,344 29,054 Add: Amortization of capitalized interest .. 1,924 1,666 1,862 2,129 2,799 ---------- ---------- ---------- ---------- ---------- Earnings as adjusted .. $1,419,314 $1,124,215 $1,314,256 $1,047,961 $1,529,389 ---------- ---------- ---------- ---------- ---------- Ratio of earnings to fixed charges ............... 5.70 4.43 5.02 3.50 6.43 ========== ========== ========== ========== ==========
(a) Interest expense includes amortization of debt expense and any discount or premium relating to indebtedness.