Exhibit 12

Conagra Brands, Inc. and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

($ in millions)

	Twenty-six weeks ended
	November 27, 2016
Earnings:
Income from continuing operations before income taxes and equity method investment earnings	$	430.2
Add (deduct):
Fixed charges	131.5
Distributed income of equity method investees	7.0
Capitalized interest	(4.1		)
Earnings available for fixed charges (a)	$	564.6
Fixed charges:
Interest expense	$	113.9
Capitalized interest	4.1
One third of rental expense (1)	13.5
Total fixed charges (b)	$	131.5
Ratio of earnings to fixed charges (a/b)	4.3

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