Exhibit 12

ConAgra Foods, Inc. and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

($ in millions)

	Thirty-nine weeks ended February 26, 2012
Earnings:
Income from continuing operations before income taxes and equity method investment earnings	$	740.4
Add (deduct):
Fixed charges		191.7
Distributed income of equity method investees		19.4
Capitalized interest		(4.4	)
Earnings available for fixed charges (a)	$	947.1
Fixed charges:
Interest expense	$	156.3
Capitalized interest		4.4
One third of rental expense (1)		31.0
Total fixed charges (b)	$	191.7
Ratio of earnings to fixed charges (a/b)		4.9

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