EX-12 5 exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
Three Quarters Ended
 
April 1, 2016
 
April 3, 2015
 
(In millions, except ratios)
Earnings:
 
 
 
Income from continuing operations
$
183

 
$
390

Plus: Income taxes
185

 
154

Fixed charges
142

 
86

Amortization of capitalized interest
—

 
—

Less: Interest capitalized during the period
—

 
(3
)
Undistributed earnings in equity investments
—

 
—

 
$
510

 
$
627

Fixed Charges:
 
 
 
Interest expense
$
139

 
$
79

Plus: Interest capitalized during the period
—

 
3

Interest portion of rental expense
3

 
4

 
$
142

 
$
86

Ratio of Earnings to Fixed Charges
3.59

 
7.29