EX-12 3 d769277dex12.htm EX-12 EX-12

Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Fiscal Years Ended  
     June 27,
2014		     June 28,
2013		     June 29,
2012		  
     (In millions, except ratios)  

Earnings:

       

Income from continuing operations

    $ 539.2     $ 461.9     $ 555.9  

Plus: Income taxes

      256.2       202.7       286.0  

          Fixed charges

      100.7       116.1       119.2  

          Amortization of capitalized interest

      0.1       0.1       0.1  

Less: Interest capitalized during the period

      (1.9 )      (0.5 )      —  

          Undistributed earnings in equity investments

      —       —       —  
  

 

 

    

 

 

    

 

 

  
   $ 894.3     $ 780.3     $ 961.2  
  

 

 

    

 

 

    

 

 

  

Fixed Charges:

       

Interest expense

    $ 93.6     $ 109.1     $ 113.2  

Plus: Interest capitalized during the period

      1.9       0.5       —  

          Interest portion of rental expense

      5.2       6.5       6.0  
  

 

 

    

 

 

    

 

 

  
   $ 100.7     $ 116.1     $ 119.2  
  

 

 

    

 

 

    

 

 

  

Ratio of Earnings to Fixed Charges

      8.88       6.72       8.06