EX-12 6 a06-16588_1ex12.htm EX-12

Exhibit 12

CONAGRA FOODS, INC. AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges
(Dollars in millions)

 

 

2006

 

2005

 

2004

 

2003

 

2002

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes, equity method investment earnings and cumulative effect of changes in accounting

 

$

955.4

 

$

998.4

 

$

815.0

 

$

825.9

 

$

795.9

 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

373.2

 

407.9

 

394.7

 

412.6

 

535.6

 

Distributed income of equity investees

 

21.8

 

24.5

 

24.4

 

16.7

 

16.4

 

Capitalized interest

 

(5.0

)

(8.6

)

(4.4

)

(3.9

)

(6.0

)

Preferred distributions of subsidiary

 

—

 

—

 

(3.5

)

(8.8

)

(25.1

)

Earnings available for fixed charges (a)

 

$

1,345.4

 

$

1,422.2

 

$

1,226.2

 

$

1,242.5

 

$

1,316.8

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

281.5

 

$

322.1

 

$

324.5

 

$

328.4

 

$

417.2

 

Capitalized interest

 

5.0

 

8.6

 

4.4

 

3.9

 

6.0

 

Interest in cost of goods sold

 

25.8

 

19.3

 

13.4

 

15.3

 

20.8

 

Preferred distributions of subsidiary

 

—

 

—

 

3.5

 

8.8

 

25.1

 

One third of rental expense(1)

 

60.9

 

58.0

 

48.9

 

56.2

 

66.5

 

Total fixed charges (b)

 

$

373.2

 

$

408.0

 

$

394.7

 

$

412.6

 

$

535.6

 

Ratio of earnings to fixed charges (a/b)

 

3.6

 

3.5

 

3.1

 

3.0

 

2.5

 

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

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