Exhibit 12 H.J. HEINZ COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Fiscal Years Ended ----------------------------------------------------- April 28, April 29, April 30, May 1, May 3, 1999 1998 1997 1996 1995 ---------- ---------- --------- ---------- ---------- Fixed Charges: Interest expense*...... $ 260,743 $ 260,401 $277,818 $ 279,368 $ 212,123 Capitalized interest... -- 1,542 2,688 1,007 414 Interest component of rental expense........ 29,926 30,828 27,382 26,728 24,200 ---------- ---------- -------- ---------- ---------- Total fixed charges.. $ 290,669 $ 292,771 $307,888 $ 307,103 $ 236,737 ---------- ---------- -------- ---------- ---------- Earnings: Income before income taxes................. $ 835,131 $1,254,981 $479,064 $1,023,661 $ 938,007 Add: Interest expense*. 260,743 260,401 277,818 279,368 212,123 Add: Interest component of rental expense..... 29,926 30,828 27,382 26,728 24,200 Add: Amortization of capitalized interest.. 3,050 3,525 3,454 3,399 3,465 ---------- ---------- -------- ---------- ---------- Earnings as adjusted. $1,128,850 $1,549,735 $787,718 $1,333,156 $1,177,795 ---------- ---------- -------- ---------- ---------- Ratio of earnings to fixed charges........... 3.88 5.29 2.56 4.34 4.98 ========== ========== ======== ========== ========== - ------- * Interest expense includes amortization of debt expense and any discount or premium relating to indebtedness.