EX-12 2 ppc-04012018xexhibit12.htm EXHIBIT 12 Exhibit


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

 
Thirteen Weeks Ended
 
April 1, 2018
 
March 26, 2017
 
(In thousands)
Earnings:
 
 
 
Income before income taxes
$
156,221

 
$
150,132

Add: Total fixed charges (see below)
54,694

 
21,491

Less: Interest capitalized
1,133

 
1,824

Total earnings
$
209,782

 
$
169,799

 
 
 
 
Fixed charges:
 
 
 
Interest(a)
$
49,168

 
$
17,289

Portion of noncancelable lease expense representative of interest factor(b)
5,526

 
4,202

Total fixed charges
$
54,694

 
$
21,491

 
 
 
 
Ratio of earnings to fixed charges
3.84

 
7.90


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