EX-12 3 exhibit12.htm RATIO OF EARNINGS TO FIXED CHARGES

EXHIBIT 12

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

Thirty-Nine Weeks Ended
September 23, September 25,
2012       2011
Earnings: (In thousands, except ratios)
       Income (loss) from continuing operations before income taxes $ 151,036 $ (417,089 )
       Add: Total fixed charges (see below) 84,581 93,768
       Less: Interest capitalized 1,196   2,896
              Total earnings 234,421 (326,217 )
Fixed charges:  
       Interest(a) 79,625 84,448
       Portion of noncancellable lease expense representative of interest factor(b) 4,956 9,320
              Total fixed charges 84,581 93,768
 
Ratio of earnings to fixed charges 2.77 (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 $420.0 million.