STEEL DYNAMICS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)

	2007			2008			2009			2010			2011

Interest expense, including amortization of debt issuance costs	$	60,526		$	144,574		$	141,360		$	170,229		$	176,977
Capitalized interest		13,717			17,822			20,919			6,968			1,730

Fixed charges (a)		74,243			162,396			162,279			177,197			178,707
Income (loss) before taxes and before adjustment for noncontrolling interests		629,829			734,941			(18,237	)		213,459			424,319
Amortization of capitalized interest		5,069			4,670			4,259			5,885			6,124
Less capitalized interest		(13,717	)		(17,822	)		(20,919	)		(6,968	)		(1,730	)

Adjusted earnings (b)		695,424			884,185			127,382			389,573			607,420

Ratio (b) / (a)		9.37x			5.44x			.78x			2.20x			3.40x

For purposes of calculating our ratio of earnings to fixed charges, earnings consist of earnings from continuing operations before income taxes, extraordinary items and before adjustment for noncontrolling interests, adjusted for the portion of fixed charges deducted from the earnings, plus amortization of capitalized interest. Fixed charges consist of interest on all indebtedness, including capitalized interest, and amortization of debt issuances costs.