EX-12 6 exhibit12_1.htm TYSON FOODS, INC. - EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES

EXHIBIT 12.1

Computation of Ratio of Earnings to Fixed Charges

 

(dollars in millions)

 

Six

 

 

 

Months

 

 

 

Ending

Fiscal Years

 

 

March 29,

 

 

 

 

 

 

 

2008

2007

2006

2005

2004

2003

Earnings:

 

 

 

 

 

 

 

Net income (loss)

 

$29 

$268 

$(196)

$372 

$403 

$337 

Add: Income tax (benefit) expense

 

15 

142 

(102)

156 

232 

186 

Add: Cumulative effect of change in

 

 

 

 

 

 

 

 

accounting principle, net of tax

 

- 

- 

5 

- 

- 

- 

Fixed charges

 

132 

278 

325 

277 

315 

337 

Amortization of capitalized interest

 

2 

3 

3 

2 

2 

2 

Less: Capitalized interest

 

(2)

(2)

(8)

(6)

(3)

(3)

Total adjusted earnings

 

176 

689 

27 

801 

949 

859 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

Interest

 

106 

228 

263 

226 

269 

294 

Capitalized interest

 

2 

2 

8 

6 

3 

3 

Amortization of debt discount expense

 

1 

4 

5 

6 

6 

5 

Rentals at computed interest factor (1)

 

23 

44 

49 

39 

37 

35 

Total fixed charges

 

$132 

$278 

$325 

$277 

$315 

$337 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.33 

2.48 

- 

2.89 

3.01 

2.55 

 

 

 

 

 

 

 

 

Insufficient Coverage

 

$ - 

$ - 

$298 

$ - 

$ - 

$ - 

 

 

 

 

 

 

 

 

 

 

(1)

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