Exhibit 12 CANANDAIGUA BRANDS, INC. AND SUBSIDIARIES STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (in thousands of dollars) For the Six For the Month Fiscal Year Transition For the Six Months Ended Ended Period Ended August 31, February 28, February 29, For the Fiscal Years Ended August 31, 1997 1996 1997 1996 1995 1994 1993 1992 Earnings: (a) Income before provision for income taxes $37,984 $23,069 $47,791 $ 6,703 $66,698 $18,924 $25,268 $17,884 Add fixed charges 17,723 18,203 37,074 18,684 27,337 19,919 7,515 7,599 Earnings $55,707 $41,272 $84,865 $25,387 $94,035 $38,843 $32,783 $25,483 Fixed Charges: Interest on debt and capitalized leases $16,290 $16,881 $34,473 $17,447 $25,121 $18,367 $6,273 $6,510 Amortization of direct financing costs 1,025 1,135 2,112 1,046 1,881 1,287 628 602 Amortization of discount on debt 172 - 112 - - - - - Interest element of rentals 236 187 377 191 335 265 614 487 Total fixed charges $17,723 $18,203 $37,074 $18,684 $27,337 $19,919 $7,515 $7,599 Ratio of Earnings to Fixed Charges 3.1 2.3 2.3 1.4 3.4 2.0 4.4 3.4 (a) For the purpose of calculating the ratio of earnings to fixed charges, "earnings" represents income before provision for income taxes plus fixed charges. "Fixed charges" consist of interest expensed and capitalized amortization of debt issuance costs, amortization of discount on debt, and the portion of rental expense which management believes is representative of the interest component of lease expense.