Pilgrim's Pride (PPC) 10-Q2017 Q2 Quarterly report

Filed: 3 Aug 17, 12:00am

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New words: announced, assist, Brazil, Brazilian, Brima, chick, conference, cooperating, counsel, exported, improper, investigating, investigation, invoiced, involuntary, leniency, lesser, machinery, misconduct, obsolete, payroll, Publicly, reduction, review, software, stockholder

Removed: agricultural, deposit, entitled, formula, livestock, person, promotion, rent, response, sum, Tyson

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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.

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