Exhibit 12.1

CONAGRA FOODS, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Dollars in millions)

	Thirteen Weeks Ended August 24, 2008			2008			2007			2006			2005			2004
Earnings:
Income from continuing operations before income taxes, equity method investment earnings (loss), and cumulative effect of changes in accounting	$	172.4		$	696.2		$	699.4		$	756.8		$	769.1		$	662.8
Add/(deduct):
Fixed charges		77.9			313.6			308.1			366.2			400.0			386.7
Distributed income of equity method investees		4.6			28.0			13.0			12.8			15.6			24.4
Capitalized interest		(1.0	)		(8.2	)		(7.1	)		(5.0	)		(8.6	)		(4.4	)
Preferred distributions of subsidiary		—			—			—			—			—			(3.5	)
Earnings available for fixed charges (a)	$	253.9		$	1,029.6		$	1,013.4		$	1,130.8		$	1,176.1		$	1,066.0
Fixed Charges:
Interest expense	$	65.3		$	262.4		$	256.7		$	310.7		$	345.0		$	339.7
Capitalized interest		1.0			8.2			7.1			5.0			8.6			4.4
Preferred distributions of subsidiary		—			—			—			—			—			3.5
One third of rental expense (1)		11.6			43.0			44.3			50.5			46.4			39.1
Total fixed charges (b)	$	77.9		$	313.6		$	308.1		$	366.2		$	400.0		$	386.7
Ratio of earnings to fixed charges (a/b)		3.3			3.3			3.3			3.1			2.9			2.8

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