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EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES
March 31, 2013 | March 25, 2012 | ||||
Earnings: | |||||
Income from continuing operations before income taxes | $ | 56,982 | $ | 40,251 | |
Add: Total fixed charges (see below) | 26,707 | 30,481 | |||
Less: Interest capitalized | 599 | 422 | |||
Total earnings | 83,090 | 70,310 | |||
Fixed charges: | |||||
Interest(a) | 25,420 | 28,667 | |||
Portion of noncancelable lease expense representative of interest factor(b) | 1,287 | 1,814 | |||
Total fixed charges | 26,707 | 30,481 | |||
Ratio of earnings to fixed charges | 3.11 | 2.31 |
(a) | Interest includes amortization of capitalized financing fees. |
(b) | One-third of noncancellable lease expense is assumed to representative of the interest factor. |