EX-12 4 exhibit12-computationofrat.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12


EXHIBIT 12
PEPSICO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(in millions except ratio amounts, unaudited)
 
 
 
 
 
 
 
 
 
 
  
 
36 Weeks Ended
 
 
  
 
9/8/2012
 
 
9/3/2011
 
Earnings:
  
 
 
 
Income before income taxes
  
 
$6,335
 
 
$6,835
 
Unconsolidated affiliates’ interests, net
  
 
(18
)
 
 
(66
)
 
Amortization of capitalized interest
  
 
2

 
 
2

 
Interest expense (a)
  
 
611

 
 
584

 
Interest portion of rent expense (b)
  
 
144

 
 
129

 
 
  
 
 

 
 
 

 
Earnings available for fixed charges
  
 
$7,074
 
 
$7,484
 
 
  
 
 

 
 
 

 
Fixed Charges:
  
 
 
 
Interest expense (a)
  
 
$611
 
 
$584
 
Capitalized interest
  
 
4

 
 
7

 
Interest portion of rent expense (b)
  
 
144

 
 
129

 
 
  
 
 

 
 
 

 
Total fixed charges
  
 
$759
 
 
$720
 
 
  
 
 

 
 
 

 
Ratio of Earnings to Fixed Charges (c)
  
 
9.32

 
 
10.40

 
 
  
 
 

 
 
 

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