Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Six-Month Period Ended				Fiscal Year Ended
In Millions, Except Ratios	Nov. 27, 2011		Nov. 28, 2010		May 29, 2011			May 30, 2010		May 31, 2009			May 25, 2008			May 27, 2007
Earnings before income taxes and after-tax earnings from joint ventures	$	1,183.2	$	1,411.4	$	2,428.2		$	2,204.5	$	1,942.2		$	1,829.5		$	1,696.2
Distributed income of equity investees		36.4		24.3		72.7			88.0		68.5			108.7			45.2
Plus: Fixed charges (1)		211.0		204.1		414.2			423.1		463.4			494.6			496.8
Plus: Amortization of capitalized interest, net of interest capitalized		3.0		2.5		(3.7	)		0.7		(2.2	)		(2.0	)		—
Earnings available to cover fixed charges	$	1,433.6	$	1,642.3	$	2,911.4		$	2,716.3	$	2,471.9		$	2,430.8		$	2,238.2
Ratio of earnings to fixed charges		6.79		8.05		7.03			6.42		5.33			4.91			4.51
(1) Fixed charges:
Interest expense	$	182.3	$	178.7	$	360.9		$	374.5	$	409.5		$	432.0		$	396.6
Preferred distributions to noncontrolling interests		1.2		1.3		2.5			2.6		7.2			22.0			63.8
Rentals (1/3)		27.5		24.1		50.8			46.0		46.7			40.6			36.4
Total fixed charges	$	211.0	$	204.1	$	414.2		$	423.1	$	463.4		$	494.6		$	496.8

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 noncontrolling interest holders, plus one-third (the proportion deemed representative of the interest factor) of rent expense.