EX-12 2 ppc-20140928xexhibit12.htm EX-12.0

PPC-2014.09.28-Exhibit 12

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.