|
Previous: LEE SARA CORP, 10-Q, 2000-02-10 |
Next: LEE SARA CORP, 10-Q, 2000-02-10 |
EXHIBIT 12.1
SARA LEE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
|
Twenty-Six Weeks Ended |
||||||
---|---|---|---|---|---|---|---|
|
January 1, 2000 |
December 26, 1998(1) |
|||||
Fixed charges: | |||||||
Interest expense | $ | 114 | $ | 114 | |||
Interest portion of rental expense | 34 | 30 | |||||
Total fixed charges before capitalized interest | 148 | 144 | |||||
Capitalized interest | 5 | 5 | |||||
Total fixed charges | $ | 153 | $ | 149 | |||
Earnings available for fixed charges: |
|
|
|
|
|
|
|
Income before income taxes | $ | 886 | $ | 923 | |||
Less undistributed income in minority-owned companies | (4 | ) | (2 | ) | |||
Add minority interest in majority-owned subsidiaries | 17 | 16 | |||||
Add amortization of capitalized interest | 9 | 11 | |||||
Add fixed charges before capitalized interest | 148 | 144 | |||||
Total earnings available for fixed charges | $ | 1,056 | $ | 1,092 | |||
Ratio of earnings to fixed charges | 6.9 | 7.3 | |||||
In the first quarter of fiscal 1999, the Corporation recorded a pretax gain of $137 million in connection with the sale of its international tobacco operations.
|