EXHIBIT 12
PEPSICO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(in millions except ratio amounts, unaudited)
| 12 Weeks Ended | |||||||
| 3/20/10 | 3/21/09 | ||||||
| Earnings: |
|||||||
| Income before income taxes |
$ | 1,401 | $ | 1,515 | |||
| Unconsolidated affiliates interests, net |
50 | (31 | ) | ||||
| Amortization of capitalized interest |
1 | 1 | |||||
| Interest expense(a) |
154 | 98 | |||||
| Interest portion of rent expense(b) |
34 | 29 | |||||
| Earnings available for fixed charges |
$ | 1,640 | $ | 1,612 | |||
| Fixed Charges: |
|||||||
| Interest expense(a) |
$ | 154 | $ | 98 | |||
| Capitalized interest |
2 | 2 | |||||
| Interest portion of rent expense(b) |
34 | 29 | |||||
| Total fixed charges |
$ | 190 | $ | 129 | |||
| Ratio of Earnings to Fixed Charges(c) |
8.64 | 12.52 | |||||
|
(a) |
Excludes interest related to our reserves for income taxes as such interest is included in provision for income taxes. |
|
(b) |
One-third of net rent expense is the portion deemed representative of the interest factor. |
|
(c) |
Based on unrounded amounts. |