EX-12.1 5 a20121130ex121.htm EXHIBIT 12.1 2012.11.30 EX 12.1





EXHIBIT 12.1

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
TEXAS INDUSTRIES, INC. AND SUBSIBIARIES


 
Six Months ended
 
 
 
 
 
 
 
November 30,
 
Year Ended May 31,
In Thousands except ratios
2012
2011
 
2012
2011
2010
2009
2008
Earnings
 
 
 
 
 
 
 
 
Income (loss) from continuing
operations before income taxes and
changes in accounting principles
$(18,380)
$(31,456)
 
$285
$(113,348)
$(71,131)
$(44,973)
$111,047
Fixed charges
36,666
36,511
 
72,724
70,770
57,544
54,041
34,865
Amortization of capitalized interest
1,157
1,157
 
2,248
2,314
2,314
2,314
1,254
Less: Interest capitalized
(19,226)
(16,056)
 
(33,684)
(18,694)
(14,394)
(26,462)
Adjusted earnings (loss)
$217
$(9,844)
 
$41,573
$(58,958)
$(11,273)
$(3,012)
$120,704
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
Interest expense
$14,201
$17,087
 
$32,587
$43,975
$45,434
$28,418
$1,254
Interest capitalized
19,226
16,056
 
33,684
18,694
14,394
26,462
Net amortization of debt discount,
premium and issuance expense
1,034
1,211
 
2,248
3,608
6,807
4,868
1,251
Interest portion of rent expense
2,205
2,157
 
4,204
4,493
5,303
6,360
5,898
Total fixed charges
$36,666
$36,511
 
$72,723
$70,770
$57,544
$54,040
$34,865
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
0.01
 
0.57

3.46
 
 
 
 
 
 
 
 
 
Deficiency of earnings to cover fixed charges
$36,449
$46,355
 
$
31,150

$129,728
$68,817
$
57,052

$--