EX-12 2 ppc-20150628xexhibit12.htm EXHIBIT 12 PPC-2015.06.28-Exhibit 12


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

 
Twenty-Six Weeks Ended
 
June 28, 2015
 
June 29, 2014
 
(In thousands)
Earnings:
 
 
 
Income before income taxes
$
686,415

 
$
439,871

Add: Total fixed charges (see below)
21,858

 
36,163

Less: Interest capitalized
1,960

 
1,070

Total earnings
$
706,313

 
$
474,964

 
 
 
 
Fixed charges:
 
 
 
Interest(a)
$
18,329

 
$
35,105

Portion of noncancelable lease expense representative of interest factor(b)
3,529

 
1,058

Total fixed charges
$
21,858

 
$
36,163

 
 
 
 
Ratio of earnings to fixed charges
32.31

 
13.13


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