EX-12 2 ppc-20160327xexhibit12.htm EXHIBIT 12
EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

| Thirteen Weeks Ended
| March 27, 2016 |  | March 29, 2015
| (In thousands)
Earnings: |  |  |
Income before income taxes | $ | 180,615 |  |  | $ | 315,687 |
Add: Total fixed charges (see below) | 14,934 |  |  | 7,495 |
Less: Interest capitalized | 308 |  |  | 922 |
Total earnings | $ | 195,241 |  |  | $ | 322,260 |
Fixed charges: |  |  |
Interest(a) | $ | 12,341 |  |  | $ | 5,777 |
Portion of noncancelable lease expense representative of interest factor(b) | 2,593 |  |  | 1,718 |
Total fixed charges | $ | 14,934 |  |  | $ | 7,495 |
Ratio of earnings to fixed charges | 13.07 |  |  | 43.00 |

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