Attached files
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Two Quarters Ended | |||||||
December 30, 2016 | January 1, 2016 | ||||||
(In millions, except ratios) | |||||||
Earnings: | |||||||
Income from continuing operations | $ | 324 | $ | 343 | |||
Plus: Income taxes | 139 | 152 | |||||
Fixed charges | 91 | 96 | |||||
Amortization of capitalized interest | — | — | |||||
Less: Interest capitalized during the period | — | — | |||||
Undistributed earnings in equity investments | — | — | |||||
$ | 554 | $ | 591 | ||||
Fixed Charges: | |||||||
Interest expense | $ | 88 | $ | 93 | |||
Plus: Interest capitalized during the period | — | — | |||||
Interest portion of rental expense | 3 | 3 | |||||
$ | 91 | $ | 96 | ||||
Ratio of Earnings to Fixed Charges | 6.09 | 6.16 |