Exhibit 12.1

CONAGRA FOODS, INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(Dollars in millions)

	Thirty-nine weeks ended February 25, 2007			2006			2005			2004			2003			2002
Earnings:
Income from continuing operations before income taxes, equity method investment earnings and cumulative effect of changes in accounting	$	744.3		$	944.9		$	987.3		$	785.6		$	791.7		$	764.0
Add/(deduct):
Fixed charges		246.9			373.2			407.9			394.7			412.6			535.6
Distributed income of equity investees		7.0			21.8			24.5			24.4			16.7			16.4
Capitalized interest		(4.6	)		(5.0	)		(8.6	)		(4.4	)		(3.9	)		(6.0	)
Preferred distributions of subsidiary		—			—			—			(3.5	)		(8.8	)		(25.1	)
Earnings available for fixed charges (a)	$	993.6		$	1,334.9		$	1,411.1		$	1,196.8		$	1,208.3		$	1,284.9
Fixed Charges:
Interest expense	$	199.3		$	307.3		$	341.4		$	337.9		$	343.7		$	438.0
Capitalized interest		4.6			5.0			8.6			4.4			3.9			6.0
Preferred distributions of subsidiary		—			—			—			3.5			8.8			25.1
One third of rental expense (1)		43.0			60.9			57.9			48.9			56.2			66.5
Total fixed charges (b)	$	246.9		$	373.2		$	407.9		$	394.7		$	412.6		$	535.6
Ratio of earnings to fixed charges (a/b)		4.0			3.6			3.5			3.0			2.9			2.4

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