EX-12 9 cag-526x2013x10kex12.htm EX-12 CAG-5.26-2013-10K Ex12


Exhibit 12
ConAgra Foods, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
($ in millions)



 
2013
 
2012
 
2011
 
2010
 
2009
Earnings:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes and equity method investment earnings
$
1,148.8

 
$
625.2

 
$
1,226.1

 
$
900.5

 
$
771.9

Add (deduct):
 
 
 
 
 
 
 
 
 
Fixed charges
338.7

 
258.2

 
273.5

 
301.6

 
314.1

Distributed income of equity method investees
26.4

 
27.4

 
13.3

 
30.6

 
41.4

Capitalized interest
(6.1
)
 
(5.6
)
 
(11.6
)
 
(12.2
)
 
(3.1
)
Earnings available for fixed charges (a)
$
1,507.8

 
$
905.2

 
$
1,501.3

 
$
1,220.5

 
$
1,124.3

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
278.6

 
$
208.0

 
$
219.7

 
$
246.0

 
$
264.3

Capitalized interest
6.1

 
5.6

 
11.6

 
12.2

 
3.1

One third of rental expense (1)
54.0

 
44.6

 
42.2

 
43.4

 
46.7

Total fixed charges (b)
$
338.7

 
$
258.2

 
$
273.5

 
$
301.6

 
$
314.1

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges (a/b)
4.5

 
3.5

 
5.5

 
4.0

 
3.6


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