1 Exhibit 12 Dean Foods Company and Subsidiaries Computation of Ratio of Earnings to Fixed Charges Fiscal Years Ending May 1995 1994 1993 1992 1991 1990 Income before taxes $136,388 $118,313 $114,759 $105,527 $124,340 $102,066 ----------------------------------------------------------------------------------------- Fixed charges: Interest expense 22,397 15,471 14,888 15,551 16,780 12,682 Debt issue costs 117 123 155 118 128 93 Portion of rentals (33%) 8,270 6,997 7,653 9,124 8,528 8,350 ----------------------------------------------------------------------------------------- Total fixed charges 30,784 22,591 22,696 24,793 25,436 21,125 ----------------------------------------------------------------------------------------- Earnings before taxes and fixed charges $167,172 $140,904 $137,455 $130,320 $149,776 $123,191 ========================================================================================== Ratio of earnings to fixed charges 5.4 6.2 6.1 5.3 5.9 5.8 ==========================================================================================