EXHIBIT 12
PEPSICO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges (a)
(in millions except ratio amounts, unaudited)
24 Weeks Ended -------------------- 6/16/01 6/10/00 -------- -------- Earnings: Income before income taxes............................ $1,667 $1,448 Unconsolidated affiliates interests, net.............. (68) (48) Amortization of capitalized interest.................. 3 3 Interest expense...................................... 81 103 Interest portion of rent expense (b).................. 20 14 -------- -------- Earnings available for fixed charges................ $1,703 $1,520 ======== ======== Fixed Charges: Interest expense...................................... $ 81 $ 103 Capitalized interest.................................. 1 2 Interest portion of rent expense (b).................. 20 14 -------- -------- Total fixed charges................................. $ 102 $ 119 ======== ======== Ratio of Earnings to Fixed Charges.................... 16.76 12.78 ======== ======== (a) Based on unrounded amounts. (b) One-third of net rent expense is the portion deemed representative of the interest factor.
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