Exhibit 12 H. J. HEINZ COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Fiscal Years Ended Nine Months ----------------------------------------------------- Ended April 29, April 30, May 1, May 3, April 27, January 27, 1999 1998 1997 1996 1995 1994 ---------------- ---------- --------- ---------- ---------- ---------- Fixed Charges: Interest expense*...... $ 196,524 $ 260,401 $277,818 $ 279,368 $ 212,123 $ 150,598 Capitalized interest... 896 1,542 2,688 1,007 414 770 Interest component of rental expense........ 22,338 30,828 27,382 26,728 24,200 26,638 ---------- ---------- -------- ---------- ---------- ---------- Total fixed charges.. $ 219,758 $ 292,771 $307,888 $ 307,103 $ 236,737 $ 178,006 ---------- ---------- -------- ---------- ---------- ---------- Earnings: Income before income taxes................. $ 903,357 $1,254,981 $479,064 $1,023,661 $ 938,007 $ 922,386 Add: Interest expense*. 196,524 260,401 277,818 279,368 212,123 150,598 Add: Interest component of rental expense..... 22,338 30,828 27,382 26,728 24,200 26,638 Add: Amortization of capitalized interest.. 2,427 3,525 3,454 3,399 3,465 3,327 ---------- ---------- -------- ---------- ---------- ---------- Earnings as adjusted. $1,124,646 $1,549,735 $787,718 $1,333,156 $1,177,795 $1,102,949 ---------- ---------- -------- ---------- ---------- ---------- Ratio of earnings to fixed charges....... 5.12 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.