Mondelez 2014 Annual Report Download - page 196
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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,
2014
2013
2012
2011
2010
Earnings from continuing operations before income taxes
$
2,554
$
2,392
$
1,774
$
1,880
$
726
Add / (Deduct):
Equity in net earnings of less than 50% owned affiliates
(112
)
(107
)
(106
)
(84
)
(115
)
Dividends from less than 50% owned affiliates
61
66
63
60
61
Fixed charges
965
1,145
2,323
2,050
2,209
Interest capitalized, net of amortization
(3
)
(2
)
(1
)
2
2
Earnings available for fixed charges
$
3,465
$
3,494
$
4,053
$
3,908
$
2,883
Fixed charges:
Interest incurred:
Interest expense
$
882
$
1,031
$
2,206
$
1,956
$
2,098
Capitalized interest
3
2
3
–
1
885
1,033
2,209
1,956
2,099
Portion of rent expense deemed to represent interest factor
80
112
114
94
110
Fixed charges
$
965
$
1,145
$
2,323
$
2,050
$
2,209
Ratio of earnings to fixed charges
3.6
3.1
1.7
1.9
1.3
(a) Excludes interest related to uncertain tax positions, which is recorded in our tax provision.
(a)