EXHIBIT 12
PEPSICO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(in millions except ratio amounts, unaudited)
| 12 Weeks Ended |
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| 3/25/06 |
3/19/05 |
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| Earnings: |
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| Income before income taxes |
$1,415 | $1,285 | ||||
| Unconsolidated affiliates interests, net |
(41 | ) | (35 | ) | ||
| Amortization of capitalized interest |
1 | 1 | ||||
| Interest expense |
62 | 50 | ||||
| Interest portion of rent expense (a) |
19 | 20 | ||||
| Earnings available for fixed charges |
$1,456 | $1,321 | ||||
| Fixed Charges: |
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| Interest expense |
$ 62 | $ 50 | ||||
| Capitalized interest |
3 | 1 | ||||
| Interest portion of rent expense (a) |
19 | 20 | ||||
| Total fixed charges |
$ 84 | $ 71 | ||||
| Ratio of Earnings to Fixed Charges (b) |
17.43 | 18.61 | ||||
| (a) |
One-third of net rent expense is the portion deemed representative of the interest factor. |
| (b) |
Based on unrounded amounts. |