Exhibit 12

ConAgra Foods, Inc. and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

($ in millions)

	Twenty-six weeks ended
	November 29, 2015
Earnings:
Income from continuing operations before income taxes and equity method investment earnings	$	438.8
Add (deduct):
Fixed charges	198.4
Distributed income of equity method investees	8.2
Capitalized interest	(3.6		)
Earnings available for fixed charges (a)	$	641.8
Fixed charges:
Interest expense	$	160.2
Capitalized interest	3.6
One third of rental expense (1)	34.6
Total fixed charges (b)	$	198.4
Ratio of earnings to fixed charges (a/b)	3.2

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