EX-12.1 7 d918672dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

The J. M. Smucker Company

Computation of Ratio of Earnings to Fixed Charges

(in millions of dollars)

 

     April 30, 2015  
     Year Ended  

Earnings before fixed charges:

  

Income before income taxes

   $ 523.0   

Total fixed charges

     108.8   

Less: capitalized interest

     (4.9
  

 

 

 

Earnings available for fixed charges

$ 626.9   

Fixed charges:

Interest and other debt expense, net of capitalized interest

$ 81.5   

Capitalized interest

  4.9   

Estimated interest portion of rent expense (a)

  22.4   
  

 

 

 

Total fixed charges

$ 108.8   

Ratio of earnings to fixed charges

  5.8   
  

 

 

 

 

(a) For purposes of this calculation, management estimates approximately one-third of rent expense is representative of interest expense.