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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.