EX-12 3 ppcexhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES PPC Exhibit 12 Q1


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

 
Thirteen Weeks Ended
 
March 25, 2012
 
March 27, 2011
Earnings:
 
 
 
Income from continuing operations before income taxes
$
40,251

 
$
(129,767
)
Add: Total fixed charges (see below)
30,481

 
31,510

Less: Interest capitalized
422

 
689

Total earnings
70,310

 
(98,946
)
 
 
 
 
Fixed charges:
 
 
 
Interest(a)
28,667

 
28,196

Portion of noncancellable lease expense representative of interest factor(b)
1,814

 
3,314

Total fixed charges
30,481

 
31,510

 
 
 
 
Ratio of earnings to fixed charges
2.31

 
(c)


(a) Interest includes amortization of capitalized financing fees.
(b) One-third of noncancellable lease expense is assumed to representative of the interest factor.
(c) Earnings were insufficient to cover fixed charges by $130.5 million.