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, 1994 1993 1994 1993 Earnings (loss) before income taxes (1) $18,190 $20,282 $59,005 $(2,409) Plus: Fixed charges (2) 6,655 5,545 17,733 16,971 Less: Capitalized interest (87) (420) (256) (593) Earnings available to cover fixed charges (3) $24,758 $25,407 $76,482 $13,969 Ratio of earnings to fixed charges (3) 3.72 4.58 4.31 .82 (1) Losses before income taxes have 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, 1994 1993 1994 1993 Interest expense, gross $4,293 $3,227 $10,937 $ 9,845 Rentals (1/3) 2,362 2,318 6,796 7,126 Total fixed charges $6,655 $5,545 $17,733 $16,971 (3) For the nine months ended November 30, 1993, earnings were inadequate to cover fixed charges. The resulting deficiency was $3,002 for the nine- month period. The deficiency was the result of unusual items. Exclusive of unusual items, the ratio of earnings to fixed charges would have been 3.62 for the nine months ended November 30, 1993.