Exhibit 12 INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES Schedule of Computation of Ratio of Earnings to Fixed Charges (unaudited) (dollars in thousands) THREE MONTHS ENDED NINE MONTHS ENDED Nov. 30, Nov. 30, Nov. 30, Nov. 30, 1993 1992 1993 1992 Earnings (loss) before income taxes (1) $20,282 $24,105 $(2,409) $48,876 Plus: Fixed charges (2) 5,545 6,426 16,971 19,348 Less: Capitalized interest (420) (271) (593) (712) Earnings available to cover fixed charges(3) $25,407 $30,260 $13,969 $67,512 Ratio of earnings to fixed charges(3) 4.58 4.71 .82 3.49 (1) Earnings(loss) before income taxes have been adjusted to reflect income received (but not undistributed amounts) from less-than-fifty-percent-owned subsidiaries. Earnings(loss) before income taxes have also been adjusted to exclude losses from less-than-fifty-percent-owned subsidiaries. (2) Fixed charges consisted of the following: THREE MONTHS ENDED NINE MONTHS ENDED Nov. 30, Nov. 30, Nov. 30, Nov. 30, 1993 1992 1993 1992 Interest expense, gross $3,227 $3,941 $ 9,845 $11,971 Rentals (1/3) 2,318 2,485 7,126 7,377 Total fixed charges $5,545 $6,426 $16,971 $19,348 (3) For the nine months ended November 30, 1993, earnings are inadequate to cover fixed charges. The resulting deficiency is $3,002 for the nine-month period. The deficiency is the result of unusual items which are described in Note 4 to the consolidated condensed financial statements. Exclusive of these unusual items, the ratio of earnings available to cover fixed charges would have been 3.62 for the nine months ended November 30, 1993.