Mondelez 2012 Annual Report Download - page 549

EXHIBIT 12.1
Mondelēz International, Inc. and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
(in millions of dollars)
Notes:
Years Ended December 31,
2012
2011
2010
2009
2008
Earnings from continuing operations
before income taxes
$
1,774
$
1,880
$
726
$
969
$
72
Add / (Deduct):
Equity in net earnings of less than
50% owned affiliates
(106
)
(84
)
(115
)
(92
)
(97
)
Dividends from less than 50% owned affiliates
63
60
61
55
84
Fixed charges
2,323
2,050
2,209
1,361
1,354
Interest capitalized, net of amortization
(1
)
2
2
1
(2
)
Earnings available for fixed charges
$
4,053
$
3,908
$
2,883
$
2,294
$
1,411
Fixed charges:
Interest incurred:
Interest expense
$
2,206
$
1,956
$
2,098
$
1,280
$
1,281
Capitalized interest
3
–
1
2
3
2,209
1,956
2,099
1,282
1,284
Portion of rent expense deemed to
represent interest factor
114
94
110
79
70
Fixed charges
$
2,323
$
2,050
$
2,209
$
1,361
$
1,354
Ratio of earnings to fixed charges
1.7
1.9
1.3
1.7
1.0
(a) Excludes interest related to uncertain tax positions, which is recorded in our tax provision.
(a)