EXHIBIT 12.2
AGRILINK FOODS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
FISCAL
FISCAL YEAR ENDED SIX MONTHS ENDED
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JUNE 27, 1998
JUNE 25, JUNE 24, JUNE 29, JUNE 28, -------------------- DECEMBER 27,
1994 1995 1996 1997 ACTUAL PRO FORMA 1997
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COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
Income/(loss) before taxes,
cumulative effect of an
accounting change, and
extraordinary item............. $ 18.8 $ 10.0 $(18.8) $ 7.5 $12.5 $ 3.4 $ 9.7
Fixed charges:
Interest expense............ 18.2 32.4 42.0 35.0 30.6 72.9 15.6
Rentals(B).................. 1.5 1.3 1.4 1.5 1.6 2.0 0.8
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Total fixed charges.... 19.7 33.7 43.4 36.5 32.2 74.9 16.4
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Adjusted earning/(loss) and
fixed charges.................. $ 38.5 $ 43.7 $ 24.6 $ 44.0 $44.7 $ 78.3 $26.1
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Ratio of earnings to fixed
charges........................ 1.95 1.30 (C) 1.20 1.39 1.05 1.59
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DECEMBER 26, 1998
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ACTUAL PRO FORMA
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COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
Income/(loss) before taxes,
cumulative effect of an
accounting change, and
extraordinary item............. $ 3.5(A) $ 2.4
Fixed charges:
Interest expense............ 26.9 37.8
Rentals(B).................. 0.8 1.0
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Total fixed charges.... 27.7 38.8
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Adjusted earning/(loss) and
fixed charges.................. $ 31.2 $41.2
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Ratio of earnings to fixed
charges........................ 1.13 1.06
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(A) The $64.2 million gain on the sale of the Aseptic Business and the $5.5
million expense for the amortization of debt issue costs associated with
the Bridge Facility have been excluded in calculating the ratio of earnings
to fixed charges for the six months ended December 26, 1998.
(B) Rentals deemed representative of the interest factor included in rent
expense.
(C) For fiscal 1996 earnings before fixed charges were insufficient to cover
fixed charges by $18.7 million.