Exhibit 12

ConAgra Foods Inc. and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

($ in millions)

	Thirteen weeks ended August 26, 2012
Earnings:
Income from continuing operations before income taxes and equity method investment earnings	$	368.1
Add (deduct):
Fixed charges		63.2
Distributed income of equity method investees		8.8
Capitalized interest		(1.7	)
Earnings available for fixed charges (a)	$	438.4
Fixed charges:
Interest expense	$	50.1
Capitalized interest		1.7
One third of rental expense (1)		11.4
Total fixed charges (b)	$	63.2
Ratio of earnings to fixed charges (a/b)		6.9

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