Exhibit 12

ConAgra Foods, Inc. and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

($ in millions)

	Thirteen Weeks Ended
	August 24, 2014
Earnings:
Income from continuing operations before income taxes and equity method investment earnings	$	128.1
Add (deduct):
Fixed charges	104.4
Distributed income of equity method investees	1.2
Capitalized interest	(1.9		)
Earnings available for fixed charges (a)	$	231.8
Fixed charges:
Interest expense	$	84.2
Capitalized interest	1.9
One third of rental expense (1)	18.3
Total fixed charges (b)	$	104.4
Ratio of earnings to fixed charges (a/b)	2.2

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