SYSCO CORP - FORM 10-Q - EX-12.1 - EXHIBIT 12.1

file	filename
10-Q - 10-Q - SYSCO CORP	syy2017q210-q.htm
EX-32.2 - EXHIBIT 32.2 - SYSCO CORP	exhibit322-cfocertificatio.htm
EX-32.1 - EXHIBIT 32.1 - SYSCO CORP	exhibit321-ceocertificatio.htm
EX-31.2 - EXHIBIT 31.2 - SYSCO CORP	exhibit312-cfocertificatio.htm
EX-31.1 - EXHIBIT 31.1 - SYSCO CORP	exhibit311-ceocertificatio.htm
EX-15.2 - EXHIBIT 15.2 - SYSCO CORP	a152acknowledgementletterb.htm
EX-15.1 - EXHIBIT 15.1 - SYSCO CORP	a151reviewreportofindepend.htm
EX-10.1 - EXHIBIT 10.1 - SYSCO CORP	exhibit101-amendment2016x1.htm



											Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	26-Week Period Ending		Fiscal Year
(dollars in thousands)	Dec 31, 2016		July 2, 2016 ⁽²⁾		June 27, 2015		June 28, 2014		June 29, 2013		June 30, 2012

Earnings before income taxes	$	922,932	$	1,433,007	$	1,008,147	$	1,475,624	$	1,547,455	$	1,784,002
Add: Fixed charges		167,429		339,358		281,756		147,922		153,840		154,965
Subtract: Capitalized interest		427		2032		866		1,097		4,242		20,816
Total	$	1,089,934	$	1,770,333	$	1,289,037	$	1,622,449	$	1,697,053	$	1,918,151

Fixed Charges:
Interest expense	$	145,854	$	306,146	$	254,807	$	123,741	$	128,495	$	113,396
Capitalized interest		427		2,032		866		1,097		4,242		20,816
Rent expense interest factor		21,148		31,180		26,083		23,084		21,103		20,753
Total	$	167,429	$	339,358	$	281,756	$	147,922	$	153,840	$	154,965

Ratio of earnings to fixed charges ⁽¹⁾		6.5		5.2		4.6		11.0		11.0		12.4

⁽¹⁾ For the purpose of calculating this ratio, “earnings” consist of earnings before income taxes and fixed charges (exclusive of interest capitalized). “Fixed charges” consist of interest expense, capitalized interest and the estimated interest portion of rents.
⁽²⁾ The fiscal year ended July 2, 2016 was a 53-week year.

SYSCO CORP - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - February 6, 2017