Exhibit 12.1
The J. M. Smucker Company
Computation of Ratio of Earnings to Fixed Charges
Three Months Ended July 31, | Year Ended April 30, | |||||||||||||||||||||||
2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Earnings before fixed charges: | ||||||||||||||||||||||||
Income before income taxes | 166,826 | 717,164 | 730,753 | 396,065 | 254,788 | 241,004 | ||||||||||||||||||
Total fixed charges | 21,237 | 90,563 | 84,351 | 75,560 | 50,617 | 30,423 | ||||||||||||||||||
Less: capitalized interest | (936 | ) | (1,778 | ) | (827 | ) | (900 | ) | (505 | ) | (306 | ) | ||||||||||||
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Earnings available for fixed charges | 187,127 | 805,949 | 814,277 | 470,725 | 304,900 | 271,121 | ||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest and other debt expense, net of capitalized interest | 15,422 | 69,594 | 65,187 | 62,478 | 42,145 | 23,363 | ||||||||||||||||||
Capitalized interest | 936 | 1,778 | 827 | 900 | 505 | 306 | ||||||||||||||||||
Estimated interest portion of rent expense | 4,879 | 19,191 | 18,337 | 12,182 | 7,967 | 6,754 | ||||||||||||||||||
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Total fixed charges | 21,237 | 90,563 | 84,351 | 75,560 | 50,617 | 30,423 | ||||||||||||||||||
Ratio of earnings to fixed charges | 8.8 | 8.9 | 9.7 | 6.2 | 6.0 | 8.9 | ||||||||||||||||||
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(a) | For purposes of this calculation, management estimates approximately one-third of rent expense is representative of interest expense. |