EX-12 5 exhibit12_1.htm TYSON FOODS, INC. - EXHIBIT 12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

(dollars in millions)

 

Nine

 

 

 

Months

 

 

 

Ending

Fiscal Years

 

 

June 30,

 

 

 

 

 

 

 

2007

2006

2005

2004

2003

2002

Earnings:

 

 

 

 

 

 

 

Net income (loss)

 

$236 

$(196)

$372 

$403 

$337 

$383 

Add: Income tax (benefit) expense

 

118 

(102)

156 

232 

186 

210 

Add: Cumulative effect of change in

 

 

 

 

 

 

 

 

accounting principle, net of tax

 

- 

5 

- 

- 

- 

- 

Fixed charges

 

210 

325 

277 

315 

337 

352 

Amortization of capitalized interest

 

2 

3 

2 

2 

2 

1 

Less: Capitalized interest

 

(1)

(8)

(6)

(3)

(3)

(9)

Total adjusted earnings

 

565 

27 

801 

949 

859 

937 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

Interest

 

173 

263 

226 

269 

294 

297 

Capitalized interest

 

1 

8 

6 

3 

3 

9 

Amortization of debt discount expense

 

3 

5 

6 

6 

5 

8 

Rentals at computed interest factor (1)

 

33 

49 

39 

37 

35 

38 

Total fixed charges

 

$210 

$325 

$277 

$315 

$337 

$352 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

2.69 

- 

2.89 

3.01 

2.55 

2.66 

 

 

 

 

 

 

 

 

Insufficient Coverage

 

$ - 

$298 

$ - 

$ - 

$ - 

$ - 

 

 

 

 

 

 

 

 

 

 

(1)

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

 

 

45