EXHIBIT 12 H. J. HEINZ COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Fiscal Years Ended ---------------------------------------------------- Three Months April Ended April 29, 30, May 1, May 3, April 27, July 29, 1998 1998 1997 1996 1995 1994 ------------- ---------- -------- ---------- ---------- ---------- Fixed Charges: Interest Expense*...... $ 64,512 $ 260,401 $277,818 $ 279,368 $ 212,123 $ 150,598 Capitalized Interest... 888 1,542 2,688 1,007 414 770 Interest Component of Rental Expense........ 7,119 30,828 27,382 26,728 24,200 26,638 -------- ---------- -------- ---------- ---------- ---------- Total Fixed Charges.... $ 72,519 $ 292,771 $307,888 $ 307,103 $ 236,737 $ 178,006 -------- ---------- -------- ---------- ---------- ---------- Earnings: Income Before Income Taxes................. $334,022 $1,254,981 $479,064 $1,023,661 $ 938,007 $ 922,386 Add: Interest Expense*. 64,512 260,401 277,818 279,368 212,123 150,598 Add: Interest Component of Rental Expense..... 7,119 30,828 27,382 26,728 24,200 26,638 Add: Amortization of Capitalized Interest.. 865 3,525 3,454 3,399 3,465 3,327 -------- ---------- -------- ---------- ---------- ---------- Earnings as Adjusted... $406,518 $1,549,735 $787,718 $1,333,156 $1,177,795 $1,102,949 -------- ---------- -------- ---------- ---------- ---------- Ratio of Earnings to Fixed Charges......... 5.61 5.29 2.56 4.34 4.98 6.20 ======== ========== ======== ========== ========== ========== * Interest expense includes amortization of debt expense and any discount or premium relating to indebtedness.