EX-12 2 ppc-06252017xexhibit12.htm EXHIBIT 12
EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

| Twenty-Six Weeks Ended
| June 25, 2017 |  | June 26, 2016
| (In thousands)
Earnings: |  |  |
Income before income taxes | $ | 489,655 |  |  | $ | 412,055 |
Add: Total fixed charges (see below) | 38,034 |  |  | 29,718 |
Less: Interest capitalized | 3,846 |  |  | 869 |
Total earnings | $ | 523,843 |  |  | $ | 440,904 |
Fixed charges: |  |  |
Interest(a) | $ | 32,168 |  |  | $ | 24,450 |
Portion of noncancelable lease expense representative of interest factor(b) | 5,866 |  |  | 5,268 |
Total fixed charges | $ | 38,034 |  |  | $ | 29,718 |
Ratio of earnings to fixed charges | 13.77 |  |  | 14.84 |

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