PILGRIMS PRIDE CORP - FORM 10-K - EX-12 - COMPUTATION OF RATION OF EARNINGS TO FIXED CHARGES - November 20, 2009

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10-K - PILGRIM'S PRIDE CORPORATION - PILGRIMS PRIDE CORPform10k_body.htm
EX-21 - SUBSIDIARIES OF REGISTRANT - PILGRIMS PRIDE CORPex21.htm
EX-23 - CONSENT OF ERNST & YOUNG LLP - PILGRIMS PRIDE CORPex23.htm
EX-32.2 - CERTIFICATION OF CO-PRINCIPAL EXECUTIVE OFFICE - PILGRIMS PRIDE CORPex32_2.htm
EX-32.1 - CERTIFICATION OF CO-PRINCIPAL EXECUTIVE OFFICER - PILGRIMS PRIDE CORPex32_1.htm
EX-31.3 - CERTIFICATION BY CHIEF FINANCIAL OFFICER - PILGRIMS PRIDE CORPex31_3.htm
EX-32.3 - CERTIFICATION OF CHIEF FINANCIAL OFF - PILGRIMS PRIDE CORPex32_3.htm
EX-31.1 - CERTIFICATION BY CO-PRINCIPAL EXECUTIVE OFFICER - PILGRIMS PRIDE CORPex31_1.htm
EX-31.2 - CERTIFICATION BY CO-PRINCIPAL EXECUTIVE OFFICER - PILGRIMS PRIDE CORPex31_2.htm
EX-10.54 - SECOND AMENDMENT TO AMENDED AND RESTATED POST-PETITION CREDIT AGREEMENT - PILGRIMS PRIDE CORPex10_54.htm
EX-10.57 - CONSULTING AGREEMENT - LONNIE "BO" PILGRIM - PILGRIMS PRIDE CORPex10_57.htm

EXHIBIT 12
PILGRIM'S PRIDE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


   
2009
    
2008
    
2007
    
2006
    
2005
  
   
(In thousands)
  
Earnings:
                              
Income from continuing operations before income taxes
   $ (173,767 )   $ (1,187,093 )   $ 98,835     $ (26,626 )   $ 427,362  
Add: Total fixed charges (see below)
     181,094       158,414       146,919       65,584       63,415  
Less: Interest capitalized
     (2,619 )     (5,288 )     (5,736 )     (4,298 )     (2,821 )
                                         
Total earnings
   $ 4,708     $ (1,033,967 )   $ 240,018     $ 34,660     $ 487,956  
                                         
Fixed charges:
                                        
Interest (a)
   $ 164,548     $ 139,508     $ 128,919     $ 53,311     $ 51,106  
Portion of non-cancellable lease expense representative of the interest factor (b)
     16,546       18,906         18,000         12,273         12,309  
                                         
Total fixed charges
   $ 181,094     $ 158,414     $ 146,919     $ 65,584     $ 63,415  
                                         
Ratio of earnings to fixed charges
  
(e)
    
(d)
       1.63    
(c)
       7.69  
   
 
(a)
Interest includes amortization of capitalized financing fees.
  
     
(b)
One-third of non-cancellable lease expense is assumed to be representative of the interest factor.
  
     
(c)
Earnings were insufficient to cover fixed charges by $30.9 million.
  
     
(d)
Earnings were insufficient to cover fixed charges by $1,192.4 million.
  
     
(e)
Earnings were insufficient to cover fixed charges by $176.4 million.
  




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