EX-12.B 3 y41970ex12-b.txt COMPUTATION OF RATIO OF EARNINGS 1 Exhibit 12(b) Joseph E. Seagram & Sons, Inc. and Subsidiary Companies Computation of Ratio of Earnings to Fixed Charges (U.S. dollars in millions)
Quarter Fiscal Year Ended September 30, Ended June 30, ------------------- -------------- 2000 1999 2000 1999 ---- ---- ---- ---- Income (loss) from continuing operations, before tax $ (37) $ 94 $ (45) $ (17) Add (deduct): Dividends from equity companies -- 1 1 1 Fixed charges 130 133 522 349 Interest capitalized, net of amortization -- -- -- -- ----- ----- ----- ----- Earnings available for fixed charges $ 93 $ 228 $ 478 $ 333 ===== ===== ===== ===== Fixed charges: Interest expense $ 127 $ 130 $ 512 $ 339 Portion of rent expense deemed to represent interest factor 3 3 10 10 ----- ----- ----- ----- Fixed charges $ 130 $ 133 $ 522 $ 349 ===== ===== ===== ===== Ratio of earnings to fixed charges (a) 1.71 (b) (c) ===== ===== ===== =====
(a) Fixed charges exceeded earnings by $37 million for the quarter ended September 30, 2000. (b) Fixed charges exceeded earnings by $44 million for the year ended June 30, 2000. (c) Fixed charges exceeded earnings by $16 million for the year ended June 30, 2000.