1
Exhibit 12
Dean Foods Company and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
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FISCAL YEARS ENDING MAY
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1998 1997 1996 1995 1994
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Income (loss) from continuing operations
before taxes $143,730 $124,529 $(15,586) $100,582 $95,706
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Fixed charges:
Interest expense 21,101 15,071 16,316 13,298 11,030
Portion of rentals (33%) 10,758 8,417 8,735 6,772 5,907
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Total fixed charges 31,859 23,488 25,051 20,070 16,937
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Earnings from continuing operations before
taxes and fixed charges $175,589 $148,017 $ 9,465 $120,652 $112,643
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Ratio of earnings to fixed charges 5.5 6.3 0.4 (*) 6.0 6.7
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(*) The Fiscal 1996 Ratio of Earnings to Fixed Charges and "Income (Loss) from
Continuing Operations Before Taxes" includes the effect of a pre-tax
special charge to earnings of $102.4 million.