EX-12 3 ppc-09242017xexhibit12.htm EXHIBIT 12

Exhibit

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.