EX-12 3 ppc-03262017xexhibit12.htm EXHIBIT 12

Exhibit

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.