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New words:
bring, broker, build, calendar, Colorado, commence, complement, construct, constructed, Construction, earlier, expansion, growing, Kentucky, Longmont, neutral, opportunity, phase, property, real, recall, response, Scottsville, spring, Step, technique, vulnerable
Removed:
continue, point
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Exhibit 12.1
The J. M. Smucker Company
Computation of Ratio of Earnings to Fixed Charges
(in millions of dollars)
January 31, 2017 | |||||||
Three Months Ended | Nine Months Ended | ||||||
Earnings before fixed charges: | |||||||
Income before income taxes | $ | 197.6 | $ | 716.5 | |||
Total fixed charges | 48.9 | 150.6 | |||||
Less: capitalized interest | (0.2 | ) | (0.5 | ) | |||
Earnings available for fixed charges | $ | 246.3 | $ | 866.6 | |||
Fixed charges: | |||||||
Interest and other debt expense, net of capitalized interest | $ | 40.8 | $ | 124.2 | |||
Capitalized interest | 0.2 | 0.5 | |||||
Estimated interest portion of rent expense (A) | 7.9 | 25.9 | |||||
Total fixed charges | $ | 48.9 | $ | 150.6 | |||
Ratio of earnings to fixed charges | 5.0 | 5.8 |
(A) | For purposes of this calculation, management estimates approximately one-third of rent expense is representative of interest expense. |