1 EXHIBIT 12.1 DEL MONTE FOODS COMPANY AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF EARNINGS TO FIXED CHARGES (Dollars In Millions) YEAR YEAR YEAR YEAR YEAR THREE MONTHS THREE MONTHS ENDED ENDED ENDED ENDED ENDED ENDED ENDED JUNE 30, JUNE 30, JUNE 30, JUNE 30, JUNE 30, SEPTEMBER 30, SEPTEMBER 30, 1994 1995 1996 1997 1998 1997 1998 -------- -------- -------- -------- -------- ------------- ------------- Consolidated pre-tax income (loss) ............................. $ 11 $ 15 $ 135 $ (16) $ 6 $ 0 $ (11) Interest expense ..................... 61 76 67 52 77 17 21 Interest portion of rent expense ..... 9 11 9 11 12 5 5 ----- ----- ----- ----- ----- ----- ----- Earnings ........................... $ 81 $ 102 $ 211 $ 47 $ 95 $ 22 $ 15 ===== ===== ===== ===== ===== ===== ===== Interest expense ..................... $ 61 $ 76 $ 67 $ 52 $ 77 $ 17 $ 21 Interest portion of rent expense(a) ......................... 9 11 9 11 12 5 5 ----- ----- ----- ----- ----- ----- ----- Fixed charges ...................... $ 70 $ 87 $ 76 $ 63 $ 89 $ 22 $ 26 ===== ===== ===== ===== ===== ===== ===== Ratio of earnings to fixed charges.... 1.2x 1.2x 2.8x N/A 1.1x 1.0x N/A Surplus (deficiency) of earnings available to cover fixed charges.... $ 11 $ 15 $ 135 $ (16) $ 6 $ 0 $ (11) (a) Interest portion of rent expense is assumed equal to 33% of operating lease and rental expense for the period.