Attached files
Exhibit 12
ConAgra Foods, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
($ in millions)
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
Earnings: | |||||||||||||||||||
Income from continuing operations before income taxes and equity method investment earnings | $ | 583.6 | $ | 1,000.3 | $ | 771.0 | $ | 966.6 | $ | 510.0 | |||||||||
Add (deduct): | |||||||||||||||||||
Fixed charges | 358.2 | 388.3 | 445.5 | 333.4 | 219.7 | ||||||||||||||
Distributed income of equity method investees | 78.3 | 91.3 | 46.1 | 25.8 | 27.4 | ||||||||||||||
Capitalized interest | (7.8 | ) | (6.6 | ) | (13.6 | ) | (5.5 | ) | (4.4 | ) | |||||||||
Earnings available for fixed charges (a) | $ | 1,012.3 | $ | 1,473.3 | $ | 1,249.0 | $ | 1,320.3 | $ | 752.7 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 299.1 | $ | 331.2 | $ | 379.8 | $ | 278.6 | $ | 171.3 | |||||||||
Capitalized interest | 7.8 | 6.6 | 13.6 | 5.5 | 4.4 | ||||||||||||||
One third of rental expense (1) | 51.3 | 50.5 | 52.1 | 49.3 | 44.0 | ||||||||||||||
Total fixed charges (b) | $ | 358.2 | $ | 388.3 | $ | 445.5 | $ | 333.4 | $ | 219.7 | |||||||||
Ratio of earnings to fixed charges (a/b) | 2.8 | 3.8 | 2.8 | 4.0 | 3.4 |
(1) Considered to be representative of interest factor in rental expense.