EX-12 2 ppc-09302018xexhibit12.htm EXHIBIT 12
EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

| Thirty-Nine Weeks Ended
| September 30, 2018 |  | September 24, 2017
| (In thousands)
Earnings: |  |  |
Income before income taxes | $ | 361,398 |  |  | $ | 862,288 |
Add: Total fixed charges (see below) | 146,484 |  |  | 81,091 |
Less: Interest capitalized | 3,500 |  |  | 5,345 |
Total earnings | $ | 504,382 |  |  | $ | 938,034 |
Fixed charges: |  |  |
Interest(a) | $ | 129,401 |  |  | $ | 71,660 |
Portion of noncancelable lease expense representative of interest factor(b) | 17,083 |  |  | 9,431 |
Total fixed charges | $ | 146,484 |  |  | $ | 81,091 |
Ratio of earnings to fixed charges | 3.44 |  |  | 11.57 |

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