Exhibit 12
Tyson Foods, Inc.
Ratio of Earnings to Fixed Charges
March 28, 1998
(Dollars in millions)
1998 1997
Fixed Charges:
Interest Expense 65.2 55.1
Interest Income 5.8 3.7
Interest Capitalized 1.0 1.8
Interest Allocated to Beef and Pork 0.0 0.9
Amortization of Debt Discount 0.5 2.2
Interest Portion of Rental Expense (33%) 5.1 5.7
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Total Fixed Charges (A) 77.6 69.4
Earnings:
Net Income(Loss) 68.2 92.8
Provision for Income Taxes 40.0 89.3
Fixed Charges 77.6 69.4
Less Capitalized Interest (1.0) (1.8)
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Earnings and Fixed Charges (B) 184.9 249.7
Ratio of Earnings to Fixed Charges (B/A) 2.38 3.60
For purposes of computing the above ratios of earnings to
fixed charges, "earnings" consist of income from
continuing operations before income taxes and fixed
charges (excluding capitalized interest). "Fixed charges"
consist of (i) interest on indebtedness, whether expensed
or capitalized, but excluding interest to fifty-percent
owned subsidiaries (ii) the Company's proportionate share
of interest of fifty-percent owned subsidiaries, (iii)
that portion of rental expense the Company believes to be
representative of interest (one-third of rental expense)
and (iv) amortization of debt discount and expense.
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