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Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Quarters Ended | |||||||
April 1, 2016 | April 3, 2015 | ||||||
(In millions, except ratios) | |||||||
Earnings: | |||||||
Income from continuing operations | $ | 183 | $ | 390 | |||
Plus: Income taxes | 185 | 154 | |||||
Fixed charges | 142 | 86 | |||||
Amortization of capitalized interest | — | — | |||||
Less: Interest capitalized during the period | — | (3 | ) | ||||
Undistributed earnings in equity investments | — | — | |||||
$ | 510 | $ | 627 | ||||
Fixed Charges: | |||||||
Interest expense | $ | 139 | $ | 79 | |||
Plus: Interest capitalized during the period | — | 3 | |||||
Interest portion of rental expense | 3 | 4 | |||||
$ | 142 | $ | 86 | ||||
Ratio of Earnings to Fixed Charges | 3.59 | 7.29 |