Exhibit 12
INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
Years Ended
----------------------------------------------------------------
February 28, February 28, February 28, February 29, February 28,
1999 1998 1997 1996 1995
------------ ------------ ------------ ------------ ------------
Earnings (loss) from continuing operations
before income taxes $12,266 $36,990 $(9,767) $14,707 $53,482
Plus: Fixed charges (1) 25,719 27,154 28,052 29,314 24,795
Less: Capitalized interest (196) (8) (109) (128) (317)
-------- -------- -------- -------- --------
Earnings available to cover fixed charges $37,789 $64,136 $18,176 $43,893 $77,960
Ratio of earnings to fixed charges(2)(3) 1.47 2.36 .65 1.50 3.14
<FN>
(1) Fixed charges consist of the following:
Years Ended
---------------------------------------------------------------
February 28, February 28, February 28, February 29, February 28,
1999 1998 1997 1996 1995
----------- ----------- ----------- ----------- -----------
Interest expense, gross $16,519 $17,651 $18,658 $19,613 $15,592
Rentals (interest factor) 9,200 9,503 9,394 9,701 9,203
------- ------- ------- ------- -------
Total $25,719 $27,154 $28,052 $29,314 $24,795
======= ======= ======= ======= =======
(2) For the year ended February 28, 1997, earnings were inadequate to
cover fixed charges. The deficiency of $9,876 was the result of unusual
items. Exclusive of these unusual items, the ratio of earnings to fixed
charges would have been 1.36 for the year ended February 28, 1997.
(3) Exclusive of unusual items, the ratio of earnings to fixed charges
would have been 2.60 for the year ended February 28, 1999.
</FN>