EXHIBIT 12.1

SARA LEE CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions except ratios)



|                                                                                                               |  |                 |       |                  |   |      
|-------------------------------------------------------------------------------------------------------------- |  | --------------- | ----- | ---------------- | - | -----
|                                                                                                               |  | Years ended    
|                                                                                                               |  | July 3,2004 (1) |       | June 28,2003 (2)
|Fixed charges:                                                                                                 |  |                 |       |                  |   |      
|Interest expense                                                                                               |  | $               | 271   |                  | $ | 276  
|Interest portion of rental expense                                                                             |  |                 | 68    |                  |   | 64   
|                                                                                                               |  |                 |       |                  |   |      
|Total fixed charges before capitalized interest and preference security dividends of consolidated subsidiaries |  |                 | 339   |                  |   | 340  
|Preference security dividends of consolidated subsidiaries                                                     |  |                 | 0     |                  |   | 15   
|Capitalized interest                                                                                           |  |                 | 10    |                  |   | 11   
|                                                                                                               |  |                 |       |                  |   |      
|Total fixed charges                                                                                            |  | $               | 349   |                  | $ | 366  
|                                                                                                               |  |                 |       |                  |   |      
|Earnings available for fixed charges:                                                                          |  |                 |       |                  |   |      
|Income before income taxes continuing operations                                                               |  | $               | 1,542 |                  | $ | 1,484
|Less undistributed income (loss) in minority owned companies                                                   |  |                 | 1     |                  |   | 10   
|Add minority interest in majority-owned subsidiaries                                                           |  |                 | 4     |                  |   | 10   
|Add amortization of capitalized interest                                                                       |  |                 | 17    |                  |   | 23   
|Add fixed charges before capitalized interest and preference security dividends of consolidated subsidiaries   |  |                 | 339   |                  |   | 340  
|                                                                                                               |  |                 |       |                  |   |      
|Total earnings available for fixed charges                                                                     |  | $               | 1,903 |                  | $ | 1,867
|                                                                                                               |  |                 |       |                  |   |      
|Ratio of earnings to fixed charges                                                                             |  |                 | 5.5   |                  |   | 5.1  
|                                                                                                               |  |                 |       |                  |   |      

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|(1) | During fiscal 2004, the corporation recorded a pretax charge of $54 in connection with certain reshaping actions.
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|(2) | During fiscal 2003, the corporation recorded a pretax credit of $2 in connection with the reversal of certain reshaping actions and a Bakery restructuring charge.
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