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Previous: CONAGRA FOODS INC /DE/, 10-Q, EX-10.1, 2000-10-11 |
Next: CONAGRA FOODS INC /DE/, 10-Q, EX-27, 2000-10-11 |
<PAGE>
EXHIBIT 12
CONAGRA FOODS, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
<TABLE>
<CAPTION>
THIRTEEN
WEEKS ENDED
AUGUST 27,
2000
--------------
<S> <C>
Fixed Charges as defined:
Interest expense $ 86.3
Capitalized interest 1.4
Interest in cost of goods sold 8.0
Preferred distributions of subsidiary 10.7
One-third of noncancelable lease rent 9.1
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Total fixed charges (A) $ 115.5
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Earnings as defined:
Pretax income after elimination of undistributed earnings of equity method investees $ 236.4
Add fixed charges 115.5
Less capitalized interest (1.4)
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Earnings and fixed charges (B) $ 350.5
==============
Ratio of earnings to fixed charges (B/A) 3.0
</TABLE>
For the purposes of computing the above ratio of earnings to fixed charges,
earnings consist of income before taxes and fixed charges. Fixed charges,
for the purpose of computing earnings, are adjusted to exclude interest
capitalized. Fixed charges include interest on both long and short-term debt
(whether said interest is expensed or capitalized and including interest
charged to cost of goods sold), and a portion of noncancelable rental expense
representative of the interest factor. The ratio is computed using the
amounts for ConAgra Foods as a whole, including its majority-owned
subsidiaries, whether or not consolidated, and its proportionate share of any
50% owned subsidiaries, whether or not ConAgra Foods guarantees obligations
of these subsidiaries.
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