EX-12 3 ppc-03262017xexhibit12.htm EXHIBIT 12
EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

| Thirteen Weeks Ended
| March 26, 2017 |  | March 27, 2016
| (In thousands)
Earnings: |  |  |
Income before income taxes | $ | 142,364 |  |  | $ | 180,615 |
Add: Total fixed charges (see below) | 17,122 |  |  | 14,934 |
Less: Interest capitalized | 1,824 |  |  | 308 |
Total earnings | $ | 157,662 |  |  | $ | 195,241 |
Fixed charges: |  |  |
Interest(a) | $ | 14,209 |  |  | $ | 12,341 |
Portion of noncancelable lease expense representative of interest factor(b) | 2,913 |  |  | 2,593 |
Total fixed charges | $ | 17,122 |  |  | $ | 14,934 |
Ratio of earnings to fixed charges | 9.21 |  |  | 13.07 |

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