EX-12 2 ppc-20140928xexhibit12.htm EX-12.0
EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

| Thirty-Nine Weeks Ended
| September 28, 2014 |  | September 29, 2013
| (In thousands)
Earnings: |  |  |
Income before income taxes | $ | 829,367 |  |  | $ | 430,259 |
Add: Total fixed charges (see below) | 48,010 |  |  | 69,562 |
Less: Interest capitalized | 1,264 |  |  | 455 |
Total earnings | $ | 876,113 |  |  | $ | 499,366 |
Fixed charges: |  |  |
Interest(a) | $ | 46,671 |  |  | $ | 68,654 |
Portion of noncancelable lease expense representative of interest factor(b) | 1,339 |  |  | 908 |
Total fixed charges | $ | 48,010 |  |  | $ | 69,562 |
Ratio of earnings to fixed charges | 18.25 |  |  | 7.18 |

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