EXHIBIT 12

PEPSICO, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges ^(a)

Years Ended December 26, 2009, December 27, 2008, December 29, 2007,

December 30, 2006 and December 31, 2005

(in millions except ratio amounts)

	2009			2008			2007			2006			2005
Earnings:
Income before income taxes – continuing operations	$	8,079		$	7,045		$	7,643		$	6,994		$	6,387
Unconsolidated affiliates interests, net		(301	)		(189	)		(370	)		(316	)		(325	)
Amortization of capitalized interest		4			4			5			6			7
Interest expense		397			329			224			239			256
Interest portion of net rent expense (b)		137			119			101			97			76
Earnings available for fixed charges	$	8,316		$	7,308		$	7,603		$	7,020		$	6,401
Fixed Charges:
Interest expense	$	397		$	329		$	224		$	239		$	256
Capitalized interest		3			14			21			16			5
Interest portion of net rent expense (b)		137			119			101			97			76
Total fixed charges	$	537		$	462		$	346		$	352		$	337
Ratio of Earnings to Fixed Charges		15.48			15.82			22.01			19.99			19.03

(a) Based on unrounded amounts.

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