EX-12.1 4 d891690dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Vulcan Materials Company and Subsidiary Companies

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     For the years ended December 31  

dollars in thousands

   2014     2013     2012     2011     2010  

Fixed charges

          

Interest expense before capitalization credits

   $ 236,875      $ 197,493      $ 209,865      $ 216,976      $ 182,456   

Amortization of financing costs

     8,583        6,184        5,918        6,327        2,784   

One-third of rental expense

     36,103        29,959        26,186        24,992        24,134   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

$ 281,561    $ 233,636    $ 241,969    $ 248,295    $ 209,374   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before income taxes as adjusted

Earnings from continuing operations before income taxes

$ 298,838    $ (3,703 $ (120,421 $ (153,738 $ (192,206

Minority interest in earnings (losses) of a consolidated subsidiary

  0      0      0      0      0   

Fixed charges

  281,561      233,636      241,969      248,295      209,374   

Capitalized interest credits

  (2,092   (1,089   (2,716   (2,675   (3,637

Amortization of capitalized interest

  2,742      3,408      3,453      3,412      3,422   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before income taxes, as adjusted

$ 581,049    $ 232,252    $ 122,285    $ 95,294    $ 16,953   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

  2.1      1.0      0.5      0.4      0.1