EX-12 8 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

PEPSICO, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(in millions except ratio amounts, unaudited)

 

     36 Weeks Ended  
     9/9/06     9/3/05  

Earnings:

     

Income before income taxes

    $ 5,349     $ 4,840  

Unconsolidated affiliates interests, net

      (272 )     (272 )

Amortization of capitalized interest

      4       6  

Interest expense

      172       161  

Interest portion of rent expense (a)

     56       60  
                

Earnings available for fixed charges

    $ 5,309     $ 4,795  
                

Fixed Charges:

     

Interest expense

    $ 172     $ 161  

Capitalized interest

      11       3  

Interest portion of rent expense (a)

     56       60  
                

Total fixed charges

    $ 239     $ 224  
                

Ratio of Earnings to Fixed Charges (b)

     22.23       21.43  
                

 

 

(a)

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

 

(b)

Based on unrounded amounts.