EX-12 4 ppc-20160925xexhibit12.htm EXHIBIT 12 Exhibit


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

 
Thirty-Nine Weeks Ended
 
September 25, 2016
 
September 27, 2015
 
(In thousands)
Earnings:
 
 
 
Income before income taxes
$
561,627

 
$
896,663

Add: Total fixed charges (see below)
45,182

 
35,876

Less: Interest capitalized
1,653

 
3,144

Total earnings
$
605,156

 
$
929,395

 
 
 
 
Fixed charges:
 
 
 
Interest(a)
$
37,193

 
$
30,014

Portion of noncancelable lease expense representative of interest factor(b)
7,989

 
5,862

Total fixed charges
$
45,182

 
$
35,876

 
 
 
 
Ratio of earnings to fixed charges
13.39

 
25.91


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