EXHIBIT 12
PEPSICO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(in millions except ratio amounts, unaudited)
| 24 Weeks Ended | |||||||
| 6/12/10 | 6/13/09 | ||||||
| Earnings: |
|||||||
| Income before income taxes |
$ | 3,701 | $ | 3,751 | |||
| Unconsolidated affiliates interests, net |
22 | (144 | ) | ||||
| Amortization of capitalized interest |
2 | 2 | |||||
| Interest expense(a) |
326 | 199 | |||||
| Interest portion of rent expense(b) |
67 | 58 | |||||
| Earnings available for fixed charges |
$ | 4,118 | $ | 3,866 | |||
| Fixed Charges: |
|||||||
| Interest expense(a) |
$ | 326 | $ | 199 | |||
| Capitalized interest |
3 | 2 | |||||
| Interest portion of rent expense(b) |
67 | 58 | |||||
| Total fixed charges |
$ | 396 | $ | 259 | |||
| Ratio of Earnings to Fixed Charges(c) |
10.41 | 14.96 | |||||
|
(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. |