EX-12 4 exhibit_121.htm TYSON FOODS, INC. CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

Three Months Ended

June 26,

March 27,

December 27,

2004

2004

2003

Net income for the period

160,804 

      118,375 

57,393 

Add:  Provision for income taxes

97,703 

        69,029 

    31,607 

Add:  Minority interest

(68)

            (29)

29 

Fixed charges

77,706 

       78,718 

    79,105 

Less:  Capitalized interest

(1,187)

          (520)

(552)

Income before taxes on income and fixed charges

334,958 

     265,573 

167,582 

Fixed Charges:

Interest

65,362 

      67,724 

68,365 

Capitalized interest

1,187 

           520 

552 

Rentals at computed interest factor (1)

9,471 

        8,983 

8,893 

Amortization of debt discount expense

1,686 

        1,491 

1,295 

Total fixed charges

77,706 

      78,718 

79,105 

Ratio of earnings to fixed charges

4.31 

          3.37 

2.12 

 

Fiscal Years Ending

2003

2002

2001

2000

1999

Net income for the period

337,408 

382,727 

87,859 

151,221 

230,048 

Add:  Provision for income taxes

185,493 

210,237 

58,362 

83,520 

129,355 

Add:  Minority interest

248 

(97)

18,750 

(182)

11,526 

Fixed charges

337,164 

351,622 

175,457 

142,613 

159,072 

Less:  Capitalized interest

(3,325)

(9,264)

(3,249)

(1,746)

(5,226)

Income before taxes on income and fixed charges

856,988 

935,225 

337,179 

375,426 

524,775 

Fixed Charges:

Interest

294,175 

296,983 

143,718 

115,261 

128,035 

Capitalized interest

3,325 

9,264 

3,249 

1,746 

5,226 

Rentals at computed interest factor (1)

34,730 

37,504 

25,343 

22,052 

21,398 

Amortization of debt discount expense

4,934 

7,871 

3,147 

3,554 

4,413 

Total fixed charges

337,164 

351,622 

175,457 

142,613 

159,072 

Ratio of earnings to fixed charges

2.54 

2.66 

1.92 

2.63 

3.30 

  (1) Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs.

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