Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - SMITHFIELD FOODS INC | d383435d8k.htm |
| EX-1.1 - UNDERWRITING AGREEMENT - SMITHFIELD FOODS INC | d383435dex11.htm |
| EX-5.1 - OPINION OF HOGAN LOVELLS US LLP - SMITHFIELD FOODS INC | d383435dex51.htm |
| EX-99.1 - PRESS RELEASE - SMITHFIELD FOODS INC | d383435dex991.htm |
Exhibit 12.1
Smithfield Foods, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)
| Historical | Pro Forma | |||||||||||||||||||||||
| April 27, 2008 |
May 3, 2009 |
May 2, 2010 |
May 1, 2011 |
April 29, 2012 |
April 29, 2012 |
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| Earnings: |
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| Income (loss) from continuing operations before income taxes |
212.0 | (382.2 | ) | (214.6 | ) | 757.1 | 533.7 | 531.6 | ||||||||||||||||
| Adjustments: |
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| (Income) loss from equity method investments |
— | — | (38.6 | ) | (50.1 | ) | 9.9 | 9.9 | ||||||||||||||||
| Distributed income of equity investees |
— | — | 23.7 | 5.1 | 6.9 | 6.9 | ||||||||||||||||||
| Fixed charges |
208.1 | 238.6 | 282.8 | 259.5 | 192.2 | 190.1 | ||||||||||||||||||
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| Earnings as Adjusted |
420.1 | (143.6 | ) | 53.3 | 971.6 | 742.7 | 738.5 | |||||||||||||||||
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| Fixed Charges: |
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| Interest expense |
184.8 | 221.8 | 266.4 | 245.4 | 176.7 | 174.6 | ||||||||||||||||||
| Interest factor of rentals |
23.3 | 16.8 | 16.4 | 14.1 | 15.5 | 15.5 | ||||||||||||||||||
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| Fixed Charges |
208.1 | 238.6 | 282.8 | 259.5 | 192.2 | 190.1 | ||||||||||||||||||
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| Ratio of Earnings to Fixed Charges |
2.0x | (0.6 | )x | 0.2x | 3.7x | 3.9x | 3.9x | |||||||||||||||||