EX-12 2 exhibit12-6132015.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 - 6.13.2015


EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges
PepsiCo, Inc. and Subsidiaries
(in millions except ratio amounts, unaudited)
 
 
24 Weeks Ended
 
  
6/13/15

 
6/14/14

Earnings:
  
 
 
 
Income before income taxes
  
$
4,298

 
$
4,321

Unconsolidated affiliates’ interests, net
  
(37
)
 
(75
)
Amortization of capitalized interest
  
3

 
3

Interest expense (a)
  
428

 
410

Interest portion of rent expense (b)
  
107

 
104

Earnings available for fixed charges
  
$
4,799

 
$
4,763

 
  
 

 
 

Fixed Charges:
  
 
Interest expense (a)
  
$
428

 
$
410

Capitalized interest
  
3

 
4

Interest portion of rent expense (b)
  
107

 
104

Total fixed charges
  
$
538

 
$
518

 
 
 
 
 
Ratio of Earnings to Fixed Charges (c)
  
8.92

 
9.19

(a)   Excludes interest related to our reserves for income taxes as such interest is included in provision for income taxes and includes net amortization of debt premium/discount.
(b)   One-third of rent expense is the portion deemed representative of the interest factor.
(c)   Based on unrounded amounts.