EX-12 3 ppc-09242017xexhibit12.htm EXHIBIT 12
EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

| Thirty-Nine Weeks Ended
| September 24, 2017 |  | September 25, 2016
| (In thousands)
Earnings: |  |  |
Income before income taxes | $ | 862,288 |  |  | $ | 597,664 |
Add: Total fixed charges (see below) | 81,091 |  |  | 68,332 |
Less: Interest capitalized | 5,345 |  |  | 1,653 |
Total earnings | $ | 938,034 |  |  | $ | 664,343 |
Fixed charges: |  |  |
Interest(a) | $ | 71,660 |  |  | $ | 60,133 |
Portion of noncancelable lease expense representative of interest factor(b) | 9,431 |  |  | 8,200 |
Total fixed charges | $ | 81,091 |  |  | $ | 68,333 |
Ratio of earnings to fixed charges | 11.57 |  |  | 9.72 |

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