EX-12 6 d578172dex12.htm EX-12 EX-12

Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Fiscal Years Ended  
     June 28,
2013		     June 29,
2012		      July 1,
2011		  
     (In millions, except ratios)  

Earnings:

        

Income from continuing operations

    $ 461.9     $ 555.9      $ 598.7  

Plus: Income taxes

      202.7       286.0        306.8  

Fixed charges

      116.1       119.2        100.3  

Amortization of capitalized interest

      0.1       0.1        —  

Less: Interest capitalized during the period

      (0.5 )      —        (1.6 ) 

Undistributed earnings in equity investments

      —       —        —  
  

 

 

    

 

 

     

 

 

  
   $ 780.3     $ 961.2      $ 1,004.2  
  

 

 

    

 

 

     

 

 

  

Fixed Charges:

        

Interest expense

    $ 109.1     $ 113.2      $ 90.4  

Plus: Interest capitalized during the period

      0.5       —        1.6  

Interest portion of rental expense

      6.5       6.0        8.3  
  

 

 

    

 

 

     

 

 

  
   $ 116.1     $ 119.2      $ 100.3  
  

 

 

    

 

 

     

 

 

  

Ratio of Earnings to Fixed Charges

      6.72       8.06        10.01