EX-12 4 ppc-20160925xexhibit12.htm EXHIBIT 12
EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

| Thirty-Nine Weeks Ended
| September 25, 2016 |  | September 27, 2015
| (In thousands)
Earnings: |  |  |
Income before income taxes | $ | 561,627 |  |  | $ | 896,663 |
Add: Total fixed charges (see below) | 45,182 |  |  | 35,876 |
Less: Interest capitalized | 1,653 |  |  | 3,144 |
Total earnings | $ | 605,156 |  |  | $ | 929,395 |
Fixed charges: |  |  |
Interest(a) | $ | 37,193 |  |  | $ | 30,014 |
Portion of noncancelable lease expense representative of interest factor(b) | 7,989 |  |  | 5,862 |
Total fixed charges | $ | 45,182 |  |  | $ | 35,876 |
Ratio of earnings to fixed charges | 13.39 |  |  | 25.91 |

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