Exhibit 12.1
Kellogg Company
Computation of Ratio of Earnings to Fixed Charges
Nine Months Ended | Fiscal Year Ended | |||||||||||||||||||||||
(dollars in millions) | September 29, 2012 | December 31, 2011 | January 1, 2011 | January 2, 2010 | January 3, 2009 | December 29, 2007 | ||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense, prior to amounts capitalized | $ | 197 | $ | 237 | $ | 250 | $ | 299 | $ | 314 | $ | 324 | ||||||||||||
Interest included in interest expense not related to third party indebtedness (interest on uncertain tax positions) | (3 | ) | 3 | (2 | ) | 1 | 2 | (9 | ) | |||||||||||||||
Portions of rental expense representing interest | 44 | 55 | 51 | 50 | 48 | 45 | ||||||||||||||||||
Less: interest expense related to the early redemption of long-term debt | — | — | — | (35 | ) | — | (5 | ) | ||||||||||||||||
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Total fixed charges (B) | $ | 238 | $ | 295 | $ | 299 | $ | 315 | $ | 364 | $ | 355 | ||||||||||||
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Earnings before income taxes | $ | 1,335 | $ | 1,732 | $ | 1,743 | $ | 1,684 | $ | 1,632 | $ | 1,548 | ||||||||||||
Fixed charges | 238 | 295 | 299 | 315 | 364 | 355 | ||||||||||||||||||
Interest on uncertain tax positions included in pre-tax income | 3 | (3 | ) | 2 | (1 | ) | (2 | ) | 9 | |||||||||||||||
Amortization of capitalized interest | 4 | 5 | 6 | 6 | 5 | 6 | ||||||||||||||||||
Less: interest capitalized | (2 | ) | (5 | ) | (2 | ) | (3 | ) | (5 | ) | (5 | ) | ||||||||||||
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Earnings before income taxes and fixed charges (A) | $ | 1,578 | $ | 2,024 | $ | 2,048 | $ | 2,001 | $ | 1,994 | $ | 1,913 | ||||||||||||
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Ratio of earnings to fixed charges (A/B) | 6.6 | 6.9 | 6.8 | 6.4 | 5.5 | 5.4 |