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SARA LEE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
EXHIBIT 12.1
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Thirteen Weeks Ended |
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October 2, 1999 |
September 26, 1998(1) |
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Fixed charges: | |||||||
Interest expense | $ | 54 | $ | 52 | |||
Interest portion of rental expense | 18 | 15 | |||||
Total fixed charges before capitalized interest | 72 | 67 | |||||
Capitalized interest | 3 | 2 | |||||
Total fixed charges | $ | 75 | $ | 69 | |||
Earnings available for fixed charges: | |||||||
Income before income taxes | $ | 354 | $ | 476 | |||
Less undistributed income in minority-owned companies | (2 | ) | (1 | ) | |||
Add minority interest in majority-owned subsidiaries | 9 | 8 | |||||
Add amortization of capitalized interest | 6 | 6 | |||||
Add fixed charges before capitalized interest | 72 | 67 | |||||
Total earnings available for fixed charges | $ | 439 | $ | 556 | |||
Ratio of earnings to fixed charges | 5.9 | 8.1 | |||||
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