Exhibit 12.1
Kellogg Company
Computation of Ratio of Earnings to Fixed Charges
Nine Months | Fiscal Year Ended | |||||||||||||||||||||||
(dollars in millions) | October 2, 2010 | January 2, 2010 | January 3, 2009 | December 29, 2007 | December 30, 2006 | December 31, 2005 | ||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense, prior to amounts capitalized | $ | 189 | $ | 299 | $ | 314 | $ | 324 | $ | 310 | $ | 302 | ||||||||||||
Interest included in interest expense not related to third party indebtedness (interest on uncertain tax positions) | (4 | ) | 1 | 2 | (9 | ) | — | — | ||||||||||||||||
Portions of rental expense representing interest | 38 | 50 | 48 | 45 | 41 | 38 | ||||||||||||||||||
Less: interest expense related to the early redemption of long-term debt | — | (35 | ) | — | (5 | ) | — | (13 | ) | |||||||||||||||
Total fixed charges (B) | $ | 223 | $ | 315 | $ | 364 | $ | 355 | $ | 351 | $ | 327 | ||||||||||||
Earnings before income taxes | $ | 1,483 | $ | 1,684 | $ | 1,632 | $ | 1,548 | $ | 1,472 | $ | 1,425 | ||||||||||||
Fixed charges | 223 | 315 | 364 | 355 | 351 | 327 | ||||||||||||||||||
Interest on uncertain tax positions included in pre-tax income | 4 | (1 | ) | (2 | ) | 9 | — | — | ||||||||||||||||
Amortization of capitalized interest | 5 | 6 | 5 | 6 | 5 | 9 | ||||||||||||||||||
Less: interest capitalized | (1 | ) | (3 | ) | (5 | ) | (5 | ) | (3 | ) | (1 | ) | ||||||||||||
Earnings before income taxes and fixed charges (A) | $ | 1,714 | $ | 2,001 | $ | 1,994 | $ | 1,913 | $ | 1,825 | $ | 1,760 | ||||||||||||
Ratio of earnings to fixed charges (A/B) | 7.7 | 6.4 | 5.5 | 5.4 | 5.2 | 5.4 |