EX-12 7 a05-14105_1ex12.htm EX-12

Exhibit 12

 

CONAGRA FOODS, INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(Dollars in millions)

 

 

 

2005

 

2004

 

2003

 

2002

 

2001

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes, equity method investment earnings and cumulative effect of changes in accounting

 

$

1,158.0

 

$

1,112.4

 

$

1,211.6

 

$

1,186.1

 

$

1,031.3

 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

411.9

 

398.8

 

417.1

 

540.1

 

597.6

 

Distributed income of equity investees

 

24.5

 

24.4

 

16.7

 

16.4

 

18.6

 

Capitalized interest

 

(8.6

)

(4.4

)

(3.9

)

(6.0

)

(5.1

)

Preferred distributions of subsidiary

 

—

 

(3.5

)

(8.8

)

(25.1

)

(42.4

)

Earnings available for fixed charges (a)

 

$

1,585.8

 

$

1,527.7

 

$

1,632.7

 

$

1,711.5

 

$

1,600.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

322.1

 

$

324.5

 

$

328.4

 

$

417.2

 

$

455.6

 

Capitalized interest

 

8.6

 

4.4

 

3.9

 

6.0

 

5.1

 

Interest in cost of goods sold

 

19.3

 

13.4

 

15.3

 

20.8

 

35.0

 

Preferred distributions of subsidiary

 

—

 

3.5

 

8.8

 

25.1

 

42.4

 

One third of rental expense (1)

 

61.9

 

53.0

 

60.7

 

71.0

 

59.5

 

Total fixed charges (b)

 

$

411.9

 

$

398.8

 

$

417.1

 

$

540.1

 

$

597.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges (a/b)

 

3.8

 

3.8

 

3.9

 

3.2

 

2.7

 

 

(1)  Considered to be representative of interest factor in rental expense.

 

 

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