EX-12 7 a2050336zex-12.txt EXHIBIT 12 Exhibit 12 INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES Computation of Ratio of Earnings to Fixed Charges (dollars in thousands)
FISCAL YEAR ENDED --------------------------------------------------------------- March 3, February 29, February 28, February 28, February 28, 2001 2000 1999 1998 1997 ----------- ------------ ----------- ------------ ------------ Earnings (loss) from continuing operations before income taxes $39,099 $40,351 $12,266 $36,990 $(9,767) Plus: Fixed charges (1) 27,174 25,444 25,719 27,154 28,052 Less: Capitalized interest (542) (814) (196) (8) (109) ------- ------- ------- ------- ------- Earnings available to cover fixed charges $65,731 $64,981 $37,789 $64,136 $18,176 ======= ======= ======= ======= ======= Ratio of earnings to fixed charges(2)(3) 2.42 2.55 1.47 2.36 .65 ======= ======= ======= ======= ======= (1) Fixed charges consist of the following: FISCAL YEAR ENDED --------------------------------------------------------------- March 3, February 29, February 28, February 28, February 28, 2001 2000 1999 1998 1997 ----------- ----------- ------------ ------------ ------------ Interest expense, gross $18,269 $16,397 $16,519 $17,651 $18,658 Rentals (interest factor) 8,905 9,047 9,200 9,503 9,394 ------- ------- ------- ------- ------- Total fixed charges $27,174 $25,444 $25,719 $27,154 $28,052 ======= ======= ======= ======= =======
(2) For the year ended February 28, 1997, earnings were inadequate to cover fixed charges. The deficiency of $9,876 was the result of unusual items. Exclusive of these unusual items, the ratio of earnings to fixed charges would have been 1.36 for the year ended February 28, 1997. (3) Exclusive of unusual items, the ratio of earnings to fixed charges would have been 2.29, 2.53 and 2.60, respectively for the years ended March 3, 2001, February 29, 2000 and February 28, 1999.