EX-12 2 ppc-20150927xexhibit12.htm EXHIBIT 12
EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

| Thirty-Nine Weeks Ended
| September 27, 2015 |  | September 28, 2014
| (In thousands)
Earnings: |  |  |
Income before income taxes | $ | 896,663 |  |  | $ | 829,367 |
Add: Total fixed charges (see below) | 35,876 |  |  | 48,010 |
Less: Interest capitalized | 3,144 |  |  | 1,264 |
Total earnings | $ | 929,395 |  |  | $ | 876,113 |
Fixed charges: |  |  |
Interest(a) | $ | 30,014 |  |  | $ | 46,671 |
Portion of noncancelable lease expense representative of interest factor(b) | 5,862 |  |  | 1,339 |
Total fixed charges | $ | 35,876 |  |  | $ | 48,010 |
Ratio of earnings to fixed charges | 25.91 |  |  | 18.25 |

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