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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
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Exhibit 12
CONAGRA FOODS, INC. AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges
(Dollars in millions)
|
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
| |||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
| |||||
Income from continuing operations before income taxes, equity method investment earnings and cumulative effect of changes in accounting |
| $ | 955.4 |
| $ | 998.4 |
| $ | 815.0 |
| $ | 825.9 |
| $ | 795.9 |
|
Add/(deduct): |
|
|
|
|
|
|
|
|
|
|
| |||||
Fixed charges |
| 373.2 |
| 407.9 |
| 394.7 |
| 412.6 |
| 535.6 |
| |||||
Distributed income of equity investees |
| 21.8 |
| 24.5 |
| 24.4 |
| 16.7 |
| 16.4 |
| |||||
Capitalized interest |
| (5.0 | ) | (8.6 | ) | (4.4 | ) | (3.9 | ) | (6.0 | ) | |||||
Preferred distributions of subsidiary |
| — |
| — |
| (3.5 | ) | (8.8 | ) | (25.1 | ) | |||||
Earnings available for fixed charges (a) |
| $ | 1,345.4 |
| $ | 1,422.2 |
| $ | 1,226.2 |
| $ | 1,242.5 |
| $ | 1,316.8 |
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest expense |
| $ | 281.5 |
| $ | 322.1 |
| $ | 324.5 |
| $ | 328.4 |
| $ | 417.2 |
|
Capitalized interest |
| 5.0 |
| 8.6 |
| 4.4 |
| 3.9 |
| 6.0 |
| |||||
Interest in cost of goods sold |
| 25.8 |
| 19.3 |
| 13.4 |
| 15.3 |
| 20.8 |
| |||||
Preferred distributions of subsidiary |
| — |
| — |
| 3.5 |
| 8.8 |
| 25.1 |
| |||||
One third of rental expense(1) |
| 60.9 |
| 58.0 |
| 48.9 |
| 56.2 |
| 66.5 |
| |||||
Total fixed charges (b) |
| $ | 373.2 |
| $ | 408.0 |
| $ | 394.7 |
| $ | 412.6 |
| $ | 535.6 |
|
Ratio of earnings to fixed charges (a/b) |
| 3.6 |
| 3.5 |
| 3.1 |
| 3.0 |
| 2.5 |
|
(1) Considered to be representative of interest factor in rental expense.
134