Exhibit 12   Computation of Ratio of Earnings to Fixed Charges

	Fiscal Year Ended
In Millions	May 29, 2005			May 30, 2004			May 25, 2003			May 26, 2002			May 27, 2001
Earnings before Income Taxes and Earnings from   Joint Ventures	$	1,815		$	1,509		$	1,316		$	667		$	998
Earnings from Joint Ventures before Income Taxes		121			100			81			40			21
Plus: Fixed Charges (1)		524			569			619			468			237
Less: Capitalized Interest		(3	)		(8	)		(8	)		(3	)		(2	)
Earnings Available to Cover Fixed Charges	$	2,457		$	2,170		$	2,008		$	1,172		$	1,254
Ratio of Earnings to Fixed Charges		4.69			3.81			3.24			2.50			5.29
Note (1)
Fixed Charges:
Interest and Minority Interest Expense, Gross	$	488		$	537		$	589		$	445		$	223
Rentals (1/3)		36			32			30			23			14
Total Fixed Charges	$	524		$	569		$	619		$	468		$	237

For purposes of computing the ratio of earnings to fixed charges, earnings represent earnings before taxes and joint ventures, plus pretax earnings or losses of joint ventures, plus fixed charges, less adjustment for capitalized interest. Fixed charges represent gross interest expense and subsidiary preferred distributions to minority interest holders, plus one-third (the proportion deemed representative of the interest factor) of rent expense.

We have not presented a ratio of earnings to fixed charges and preference stock dividends because we currently have no preference stock outstanding.