EX-12 28 f84647exv12.txt EXHIBIT 12 EXHIBIT 12 DEL MONTE FOODS COMPANY AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF EARNINGS TO FIXED CHARGES
YEAR ENDED JUNE 30, --------------------------------------------------- 2002 2001 2000 1999 1998 -------- -------- -------- -------- ------- (IN MILLIONS, EXCEPT RATIO) EARNINGS: Consolidated pre-tax income ....... $ 55.8 $ 56.7 $ 79.4 $ 33.2 $ 6.0 Interest expense .................. 57.5 74.6 67.1 77.6 77.5 Interest portion of rent expense(a) 9.9 11.5 9.9 9.8 9.4 -------- -------- -------- -------- ------- Earnings ............ $ 123.2 $ 142.8 $ 156.4 $ 120.6 $ 92.9 ======== ======== ======== ======== ======= FIXED CHARGES: Interest expense .................. $ 57.5 $ 74.6 $ 67.1 $ 77.6 $ 77.5 Interest portion of rent expense(a) 9.9 11.5 9.9 9.8 9.4 -------- -------- -------- -------- ------- Fixed charges ....... $ 67.4 $ 86.1 $ 77.0 $ 87.4 $ 86.9 ======== ======== ======== ======== ======= FIXED CHARGE RATIO: Ratio of earnings to fixed charges 1.8x 1.7x 2.0x 1.4x 1.1x Surplus of earnings available to cover fixed charges ........... $ 55.8 $ 56.7 $ 79.4 $ 33.2 $ 6.0
(a) Interest portion of rent expense is assumed equal to 33% of operating lease and rental expense for the period.