Exhibit 12
INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(in thousands)
THREE MONTHS ENDED
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May 31, May 31,
1998 1997
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Earnings (loss) before income taxes $(32,902) $ 2,857
Plus: Fixed charges (1) 6,078 7,766
Less: Capitalized interest - (9)
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Earnings available to cover
fixed charges (2) N/A $10,614
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Ratio of earnings to fixed charges (2) N/A 1.37
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(1) Fixed charges consisted of the following:
THREE MONTHS ENDED
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May 31, May 31,
1998 1997
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Interest expense, gross $3,833 $5,422
Rentals (Interest factor) 2,245 2,344
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Total fixed charges $6,078 $7,766
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(2) For the three months ended May 31, 1998, earnings were inadequate to cover
fixed charges by $32,902. The deficiency was the result of unusual items as
described in Note 4 to the consolidated condensed financial statements.
Excluding unusual items, the ratio of earnings to fixed charges would have
been 1.75 for the three months ended May 31, 1998.