Exhibit 12
<TABLE>
<CAPTION>

                                                                 JAMES RIVER CORPORATION of Virginia

                                                        COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (a)
                                                                     (Dollar amounts in millions)

                                                                                           Fiscal Year Ended
                                            -----------------------------------------------------------------------------------
                                                   December         December         December         December        December
                                                   27, 1992         26, 1993         25, 1994         31, 1995        29, 1996
                                                 (52 weeks)       (52 weeks)       (52 weeks)       (53 weeks)      (52 weeks)
-------------------------------------------------------------------------------------------------------------------------------
                                                      (b,c)                               (c)
Pretax income (loss) from continuing
<S>                                                 <C>                <C>            <C>               <C>             <C>   
  operations, before minority interests             $(182.8)           $14.1           $(15.7)          $220.4          $284.1

Add:
  Interest charged to operations                      193.0            183.0            210.1            236.0           174.7
  Portion of rental expense representative
    of interest factor (assumed to be one-third)        9.4             19.1             24.2             23.9            23.4
-------------------------------------------------------------------------------------------------------------------------------

      Total earnings, as adjusted                     $29.6           $216.2           $218.6           $480.3          $482.2
===============================================================================================================================
Fixed charges:
  Interest charged to operations                     $193.0           $183.0           $210.1           $236.0          $174.7
  Capitalized interest                                 12.8              5.3              3.1              6.9             5.1
  Portion of rental expense representative
    of interest factor (assumed to be one-third)       19.4             19.1             24.2             23.9            23.4
-------------------------------------------------------------------------------------------------------------------------------

      Total fixed charges                            $225.2           $207.4           $237.4           $266.8          $203.2
===============================================================================================================================

Ratio                                                   - -             1.04              - -             1.80            2.37
==============================================================================================================================

</TABLE>
See accompanying footnote explanations.

                                       24
<PAGE>



Exhibit 12 (continued)
<TABLE>
<CAPTION>

                                        JAMES RIVER CORPORATION of Virginia

                               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (a)
                                           (Dollar amounts in millions)

                                                                                  Quarter Ended
                                                                    -------------------------------------------
                                                                                 June 30,             June 29,
                                                                                     1997                 1996
                                                                               (26 Weeks)           (26 Weeks)
---------------------------------------------------------------------------------------------------------------

Pretax income from continuing operations,
<S>                                                                                <C>                   <C>  
  before minority interests                                                        $236.0                $97.0

Add:
  Interest charged to operations                                                     79.7                 92.8

  Portion of rental expense representative of
    interest factor (assumed to be one-third)                                        11.8                 11.9
---------------------------------------------------------------------------------------------------------------

      Total earnings, as adjusted                                                  $327.5               $201.7
===============================================================================================================

Fixed charges:
  Interest charged to operations                                                    $79.7                $92.8

  Capitalized interest                                                                2.6                  2.4

  Portion of rental expense representative of
    interest factor (assumed to be one-third)                                        11.8                 11.9
---------------------------------------------------------------------------------------------------------------

      Total fixed charges                                                           $94.1               $107.1
===============================================================================================================

Ratio                                                                                3.48                 1.88
===============================================================================================================
</TABLE>



See accompanying footnote explanations.

                                       25

<PAGE>



Exhibit 12 (continued)

                       JAMES RIVER CORPORATION of Virginia

           NOTES TO COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(a)  In computing the ratio of earnings to fixed  charges,  earnings  consist of
     income before income taxes, minority interests, and fixed charges excluding
     capitalized   interest.   Fixed  charges   consist  of  interest   expense,
     capitalized interest, and that portion of rental expense (one-third) deemed
     representative  of the interest  factor.  Earnings  and fixed  charges also
     include   the   Company's   proportionate   share  of  such   amounts   for
     unconsolidated  affiliates  which  are  owned  50% or more and  distributed
     income from less than 50% owned affiliates.

(b)  During 1992, the Company initiated a productivity  enhancement  program and
     recorded  a $112  million  pretax  charge  which has been  included  in the
     calculation of the ratio of earnings to fixed charges for this year.

(c)  For the following periods, earnings were inadequate to cover fixed charges,
     and the amounts of the  deficiencies  were:  year ended December 27, 1992 -
     $195.6 million; year ended December 25, 1994 - $18.8 million.

                                       26