EX-12 2 ppc-20160327xexhibit12.htm EXHIBIT 12 Exhibit


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

 
Thirteen Weeks Ended
 
March 27, 2016
 
March 29, 2015
 
(In thousands)
Earnings:
 
 
 
Income before income taxes
$
180,615

 
$
315,687

Add: Total fixed charges (see below)
14,934

 
7,495

Less: Interest capitalized
308

 
922

Total earnings
$
195,241

 
$
322,260

 
 
 
 
Fixed charges:
 
 
 
Interest(a)
$
12,341

 
$
5,777

Portion of noncancelable lease expense representative of interest factor(b)
2,593

 
1,718

Total fixed charges
$
14,934

 
$
7,495

 
 
 
 
Ratio of earnings to fixed charges
13.07

 
43.00


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