Attached files
file | filename |
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10-Q - 10-Q - J M SMUCKER Co | sjm20170131-10q.htm |
EX-32 - EXHIBIT 32 - J M SMUCKER Co | sjm20170131-10qex32.htm |
EX-31.2 - EXHIBIT 31.2 - J M SMUCKER Co | sjm20170131-10qex312.htm |
EX-31.1 - EXHIBIT 31.1 - J M SMUCKER Co | sjm20170131-10qex311.htm |
EX-10.3 - EXHIBIT 10.3 - J M SMUCKER Co | sjm20170131-10qex103.htm |
EX-10.2 - EXHIBIT 10.2 - J M SMUCKER Co | sjm20170131-10qex102.htm |
EX-10.1 - EXHIBIT 10.1 - J M SMUCKER Co | sjm20170131-10qex101.htm |
Exhibit 12.1
The J. M. Smucker Company
Computation of Ratio of Earnings to Fixed Charges
(in millions of dollars)
January 31, 2017 | |||||||
Three Months Ended | Nine Months Ended | ||||||
Earnings before fixed charges: | |||||||
Income before income taxes | $ | 197.6 | $ | 716.5 | |||
Total fixed charges | 48.9 | 150.6 | |||||
Less: capitalized interest | (0.2 | ) | (0.5 | ) | |||
Earnings available for fixed charges | $ | 246.3 | $ | 866.6 | |||
Fixed charges: | |||||||
Interest and other debt expense, net of capitalized interest | $ | 40.8 | $ | 124.2 | |||
Capitalized interest | 0.2 | 0.5 | |||||
Estimated interest portion of rent expense (A) | 7.9 | 25.9 | |||||
Total fixed charges | $ | 48.9 | $ | 150.6 | |||
Ratio of earnings to fixed charges | 5.0 | 5.8 |
(A) | For purposes of this calculation, management estimates approximately one-third of rent expense is representative of interest expense. |