Attached files

file filename
EX-32.1 - EXHIBIT 32.1 - CONAGRA BRANDS INC.cag-5x28x2017x10kex321.htm
EX-31.2 - EXHIBIT 31.2 - CONAGRA BRANDS INC.cag-5x28x2017x10kex312.htm
EX-31.1 - EXHIBIT 31.1 - CONAGRA BRANDS INC.cag-5x28x2017x10kex311.htm
EX-24 - EXHIBIT 24 - CONAGRA BRANDS INC.cag-5x28x2017x10kex24.htm
EX-23 - EXHIBIT 23 - CONAGRA BRANDS INC.cag-5x28x2017x10kex23.htm
EX-21 - EXHIBIT 21 - CONAGRA BRANDS INC.cag-5x28x2017x10kex21.htm
EX-10.32.1 - EXHIBIT 10.32.1 - CONAGRA BRANDS INC.cag-5x28x2017x10kex10321.htm
EX-10.22 - EXHIBIT 10.22 - CONAGRA BRANDS INC.cag-5x28x2017x10kex1022.htm
EX-10.12 - EXHIBIT 10.12 - CONAGRA BRANDS INC.cag-5x28x2017x10kex1012.htm
EX-2.3.1 - EXHIBIT 2.3.1 - CONAGRA BRANDS INC.cag-5x28x2017x10kex231.htm
10-K - 10-K - CONAGRA BRANDS INC.cag-2017x10k.htm


Exhibit 12
Conagra Brands, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
($ in millions)



 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes and equity method investment earnings
$
729.5

 
$
108.8

 
$
584.6

 
$
376.0

 
$
491.8

Add (deduct):
 
 
 
 
 
 
 
 
 
Fixed charges
225.7

 
328.4

 
361.7

 
420.4

 
308.3

Distributed income of equity method investees
68.3

 
40.4

 
79.3

 
0.2

 
1.4

Capitalized interest
(5.0
)
 
(7.8
)
 
(6.6
)
 
(13.6
)
 
(5.5
)
Earnings available for fixed charges (a)
$
1,018.5

 
$
469.8

 
$
1,019.0

 
$
783.0

 
$
796.0

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
199.2

 
$
297.0

 
$
329.2

 
$
380.8

 
$
278.2

Capitalized interest
5.0

 
7.8

 
6.6

 
13.6

 
5.5

One third of rental expense (1)
21.5

 
23.6

 
25.9

 
26.0

 
24.6

Total fixed charges (b)
$
225.7

 
$
328.4

 
$
361.7

 
$
420.4

 
$
308.3

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges (a/b)
4.5

 
1.4

 
2.8

 
1.9

 
2.6


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