PILGRIMS PRIDE CORP - FORM 10-K - EX-12 - RATIO OF EARNINGS TO FIXED CHARGES - February 11, 2011

Attached files

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10-K - FORM 10-K - PILGRIMS PRIDE CORPd10k.htm
EX-21 - SUBSIDIARIES OF REGISTRANT - PILGRIMS PRIDE CORPdex21.htm
EX-23 - CONSENT OF ERNST & YOUNG LLP - PILGRIMS PRIDE CORPdex23.htm
EX-32.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - PILGRIMS PRIDE CORPdex322.htm
EX-32.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER - PILGRIMS PRIDE CORPdex321.htm
EX-31.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - PILGRIMS PRIDE CORPdex312.htm
EX-31.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER - PILGRIMS PRIDE CORPdex311.htm
EX-10.20 - AMENDMENT NO. 1 TO THE CREDIT AGREEMENT DATED AS OF DECEMBER 28, 2009 - PILGRIMS PRIDE CORPdex1020.htm

EXHIBIT 12

PILGRIM’S PRIDE CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

    2010     Transition Period     2009     2008     2007     2006  

Earnings:

     (In thousands)   

Income from continuing operations before income taxes

     $ 66,488         $ (68,446 )      $ (173,849)        $ (1,185,909)        $ 98,926         $ (26,063)   

Add: Total fixed charges (see below)

     132,905         48,899        181,094         158,414         146,919         65,584    

Less: Interest capitalized

     (1,296)        (1,082 )      (2,619)        (5,288)        (5,736)        (4,298)   
                                               

Total earnings

     $ 198,097         $ (20,629 )      $ 4,626         $ (1,032,783)        $ 240,109         $ 35,223    
                                               

Fixed charges:

            

Interest(a)

     $ 118,574         $ 45,756        $ 164,548         $ 139,508         $ 128,919         $ 53,311    

Portion of non-cancellable lease expense representative of the interest factor(b)

     14,331         3,143        16,546         18,906         18,000         12,273    
                                               

Total fixed charges

     $ 132,905         $ 48,899        $ 181,094         $ 158,414         $ 146,919         $ 65,584    
                                               

Ratio of earnings to fixed charges

     1.49        (f )      (e )      (d )      1.63        (c ) 

 

(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 $30.4 million.

(d)

Earnings were insufficient to cover fixed charges by $1,191.2 million.

(e)

Earnings were insufficient to cover fixed charges by $176.5 million.

(f)

Earnings were insufficient to cover fixed charges by $69.5 million.

PILGRIMS PRIDE CORP Reports