EX-12 2 ppc-06252017xexhibit12.htm EXHIBIT 12 Exhibit


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

 
Twenty-Six Weeks Ended
 
June 25, 2017
 
June 26, 2016
 
(In thousands)
Earnings:
 
 
 
Income before income taxes
$
489,655

 
$
412,055

Add: Total fixed charges (see below)
38,034

 
29,718

Less: Interest capitalized
3,846

 
869

Total earnings
$
523,843

 
$
440,904

 
 
 
 
Fixed charges:
 
 
 
Interest(a)
$
32,168

 
$
24,450

Portion of noncancelable lease expense representative of interest factor(b)
5,866

 
5,268

Total fixed charges
$
38,034

 
$
29,718

 
 
 
 
Ratio of earnings to fixed charges
13.77

 
14.84


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