Tyson Foods (TSN) 10-Q 2012 Q3 Quarterly report

EXHIBIT 12.1

Ratio of Earnings to Fixed Charges

(dollars in millions)	Nine
	Months
	Ending			Fiscal Years
	June 30, 2012			2011			2010			2009			2008			2007
Earnings:
Income (loss) from continuing operations before income taxes	$	626		$	1,074		$	1,203		$	(543	)	$	154		$	410
Add: Fixed charges	205			305			360			388			272			278
Add: Amortization of capitalized interest	3			4			3			4			4			3
Less: Capitalized interest	(8		)	(9		)	(11		)	(3		)	(3		)	(2		)
Total adjusted earnings	826			1,374			1,555			(154		)	427			689
Fixed Charges:
Interest	120			191			240			289			212			228
Capitalized interest	8			9			11			3			3			2
Amortization of debt discount expense	29			44			46			38			3			4
Rentals at computed interest factor (1)	48			61			63			58			54			44
Total fixed charges	$	205		$	305		$	360		$	388		$	272		$	278
Ratio of Earnings to Fixed Charges	4.03			4.50			4.32						1.57			2.48
Insufficient Coverage										$	542

⁽¹⁾  Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs.