<PAGE>
                                                                               .
                                                                               .
                                                                               .

                                                                      EXHIBIT 12

                  H. J. HEINZ FINANCE COMPANY AND SUBSIDIARIES

               COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

<Table>
<Caption>
                                                                   Nine
                                                                  Months
                                                                   Ended
                                                               -------------
                                                                January 29,
(in thousands)                                                     2003
--------------                                                 -------------
<S>                                                            <C>
Fixed Charges:
  Interest expense*.........................................     $113,223
  Interest component of rental expense......................        4,906
                                                                 --------
     Total fixed charges....................................     $118,129
                                                                 --------
Earnings:
  Income from continuing operations before income taxes and
     minority interest before income taxes..................     $225,372
  Add: Interest expense*....................................      113,223
  Add: Interest component of rental expense.................        4,906
                                                                 --------
     Earnings as adjusted...................................     $343,501
                                                                 --------
  Ratio of earnings to fixed charges........................         2.91
                                                                 ========
</Table>

---------------
* Interest expense includes amortization of debt expense and any discount or
  premium relating to indebtedness.

                      H. J. HEINZ COMPANY AND SUBSIDIARIES

               COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

<Table>
<Caption>
                                                                   Nine
                                                                  Months
                                                                   Ended
                                                               -------------
                                                                January 29,
(in thousands)                                                     2003
--------------                                                 -------------
<S>                                                            <C>
Fixed Charges:
  Interest expense*.........................................     $169,817
  Interest component of rental expense......................       21,870
                                                                 --------
     Total fixed charges....................................     $191,687
                                                                 --------
Earnings:
  Income from continuing operations before income taxes and
     effect of change in accounting principle...............     $703,548
  Add: Interest expense*....................................      169,817
  Add: Interest component of rental expense.................       21,870
  Add: Amortization of capitalized interest.................        1,213
                                                                 --------
     Earnings as adjusted...................................     $896,448
                                                                 --------
  Ratio of earnings to fixed charges........................         4.68
                                                                 ========
</Table>

---------------
* Interest expense includes amortization of debt expense and any discount or
  premium relating to indebtedness.