EX-12 4 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

 

PEPSICO, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(in millions except ratio amounts, unaudited)

 

     36 Weeks Ended
     9/3/05
    9/4/04

Earnings:

          

Income before income taxes

    $4,840    $4,276

Unconsolidated affiliates’ interests, net

    (272)    (246)

Amortization of capitalized interest

    6    6

Interest expense

    161    113

Interest portion of rent expense (a)

   60    56
    
  

Earnings available for fixed charges

    $4,795    $4,205
    
  

Fixed Charges:

          

Interest expense

    $   161    $   113

Capitalized interest

    3    1

Interest portion of rent expense (a)

   60    56
    
  

Total fixed charges

    $   224    $   170
    
  

Ratio of Earnings to Fixed Charges (b)

   21.43    24.70
    
  

 

(a)

One-third of net rent expense is the portion deemed representative of the interest factor.

(b)

Based on unrounded amounts.