Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Six-Month
	Period Ended					Fiscal Year Ended
	Nov. 23,			Nov. 25,		May 25,			May 27,		May 28,		May 29,		May 30,
In Millions, Except Ratios	2008			2007		2008			2007		2006		2005		2004
Earnings before income taxes and after-tax earnings from joint ventures	$	899.0		$	968.0	$	1,806.1		$	1,631.3	$	1,559.4	$	1,807.6	$	1,502.3
Distributed income of equity investees		19.3			16.2		108.7			45.2		77.4		83.0		60.0
Plus: Fixed charges (1)		216.4			262.0		494.6			496.8		462.8		524.1		569.0
Plus: Amortization of capitalized interest, net of interest capitalized		(1.5	)		1.2		(2.0	)		—		1.7		0.9		(4.6	)
Earnings available to cover fixed charges	$	1,133.2		$	1,247.4	$	2,407.4		$	2,173.3	$	2,101.3	$	2,415.6	$	2,126.7
Ratio of earnings to fixed charges		5.24			4.76		4.87			4.37		4.54		4.61		3.74
(1) Fixed charges:
Interest and minority interest expense	$	202.2		$	243.6	$	454.0		$	460.4	$	427.5	$	488.3	$	537.0
Rentals (1/3)		14.2			18.4		40.6			36.4		35.3		35.8		32.0
Total fixed charges	$	216.4		$	262.0	$	494.6		$	496.8	$	462.8	$	524.1	$	569.0

For purposes of computing the ratio of earnings to fixed charges, earnings represent earnings before income taxes and after-tax earnings of joint ventures, distributed income of equity investees, fixed charges, and amortization of capitalized interest, net of interest capitalized. Fixed charges represent gross interest expense (excluding interest on taxes) and subsidiary preferred distributions to minority interest holders, plus one-third (the proportion deemed representative of the interest factor) of rent expense.