EX-12 2 ppc-20150329xexhibit12.htm EXHIBIT 12 PPC-2015.03.29-Exhibit 12


EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

 
Thirteen Weeks Ended
 
March 29, 2015
 
March 30, 2014
 
(In thousands)
Earnings:
 
 
 
Income before income taxes
$
315,687

 
$
150,199

Add: Total fixed charges (see below)
7,495

 
21,528

Less: Interest capitalized
922

 
943

Total earnings
$
322,260

 
$
170,784

 
 
 
 
Fixed charges:
 
 
 
Interest(a)
$
5,777

 
$
20,416

Portion of noncancelable lease expense representative of interest factor(b)
1,718

 
1,112

Total fixed charges
$
7,495

 
$
21,528

 
 
 
 
Ratio of earnings to fixed charges
43.00

 
7.93


(a)    Interest includes amortization of capitalized financing fees.
(b)    One-third of noncancelable lease expense is assumed to be representative of the interest factor.