Exhibit 12
Michael Foods, Inc.
Computation of ratio of earnings to fixed charges
For the Period Ended
Years ended Three
December 31, Months Three Months
--------------------------------------------- Annual Ended 3/31/2001
1996 1997 1998 1999 2000 Proforma 3/31/2001 Proforma
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Earnings:
Income before income taxes and
extraordinary items $(3,443) $55,449 $69,417 $74,666 $73,600 $19,718 $6,201 $ 3,664
Add:
Fixed charges 9,193 13,601 13,355 14,514 15,315 57,840 3,693 14,567
Amortization of capitalized interest 572 572 572 572 572 572 143 143
Subtract:
Interest capitalized (743) (720) (1,048) (1,054) (224) (224) 0 0
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Adjusted Earnings $ 5,579 $68,902 $82,296 $88,698 $89,263 $77,906 $10,037 $18,374
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Fixed Charges:
Interest expensed and capitalized $ 8,060 $12,024 $11,638 $12,972 $13,715 $52,900 $ 3,293 $13,332
Interest portion of rentals 1,078 1,487 1,617 1,442 1,500 1,500 375 375
Amortization of capitalized debt expense 55 90 100 100 100 3,440 25 860
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$ 9,193 $13,601 $13,355 $14,514 $15,315 $57,840 $ 3,693 $14,567
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Ratio of earnings to fixed charges 0.61x 5.06x 6.16x 6.11x 5.83x 1.35x 2.72x 1.26x
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