| Successor | Predecessor (H. J. Heinz Company) | ||||||||||||||||||||||||||||||
July 3, 2016 (26 weeks) | January 3, 2016 (53 weeks) | December 28, 2014 (52 weeks) | February 8 - December 29, 2013 (29 weeks) | April 29 - June 7, 2013 (6 weeks) | April 28, 2013 (52 weeks) | April 29, 2012 (52 1/2 weeks) | April 27, 2011 (52 weeks) | ||||||||||||||||||||||||
| Fixed Charges: | |||||||||||||||||||||||||||||||
Interest expense(a) | $ | 513 | $ | 1,321 | $ | 701 | $ | 418 | $ | 52 | $ | 287 | $ | 297 | $ | 277 | |||||||||||||||
| Capitalized interest | 6 | 3 | 1 | 2 | — | 1 | — | 2 | |||||||||||||||||||||||
Interest component of rent expense(b) | 30 | 54 | 29 | 38 | 5 | 43 | 46 | 32 | |||||||||||||||||||||||
| Total fixed charges | $ | 549 | $ | 1,378 | $ | 731 | $ | 458 | $ | 57 | $ | 331 | $ | 343 | $ | 311 | |||||||||||||||
| Earnings: | |||||||||||||||||||||||||||||||
| Income/(loss) from continuing operations before income or loss from equity investees and income taxes | $ | 2,638 | $ | 1,013 | $ | 803 | $ | (298 | ) | $ | (130 | ) | $ | 1,344 | $ | 1,237 | $ | 1,416 | |||||||||||||
Add: Interest expense(a) | 513 | 1,321 | 701 | 418 | 52 | 287 | 297 | 277 | |||||||||||||||||||||||
Add: Interest component of rent expense(b) | 30 | 54 | 29 | 38 | 5 | 43 | 46 | 32 | |||||||||||||||||||||||
| Add: Amortization of capitalized interest | 1 | 3 | 1 | 1 | — | — | 1 | 1 | |||||||||||||||||||||||
| Earnings as adjusted | $ | 3,182 | $ | 2,391 | $ | 1,534 | $ | 159 | $ | (73 | ) | $ | 1,674 | $ | 1,581 | $ | 1,726 | ||||||||||||||
| Ratios of earnings to fixed charges | 5.80 | 1.74 | 2.10 | (c) | (c) | 5.06 | 4.61 | 5.55 | |||||||||||||||||||||||
| (a) | Interest expense includes amortization of debt expense and any discount or premium relating to indebtedness. |
| (b) | Represents a reasonable approximation of the interest factor. |
| (c) | The ratio coverage during the period from February 8 to December 29, 2013 (“2013 Successor Period”) and during the period from April 29 to June 7, 2013 (“2013 Predecessor Period”) was less than 1:1. We would have needed to generate additional earnings of $299 million during the 2013 Successor Period and $130 million during the 2013 Predecessor Period to achieve ratio coverage of 1:1. |
