Conagra Brands (CAG) 10-Q 2018 Q2 Quarterly report

Exhibit 12

Conagra Brands, Inc. and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

($ in millions)

	Twenty-six weeks ended
	November 26, 2017
Earnings:
Income from continuing operations before income taxes and equity method investment earnings	$	556.6
Add (deduct):
Fixed charges	89.1
Distributed income of equity method investees	—
Capitalized interest	(2.2		)
Earnings available for fixed charges (a)	$	643.5
Fixed charges:
Interest expense	$	76.3
Capitalized interest	2.2
One third of rental expense (1)	10.6
Total fixed charges (b)	$	89.1
Ratio of earnings to fixed charges (a/b)	7.2

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