EX-12.1 3 d505774dex121.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

   2017     2016     2015     2014     2013  

Fixed charges

          

Interest expense before capitalization credits

   $ 300,699     $ 141,543     $ 219,915     $ 236,875     $ 197,493  

Amortization of financing costs

     0       0       3,602       8,583       6,184  

One-third of rental expense

     39,363       41,686       39,552       36,103       29,959  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 340,062     $ 183,229     $ 263,069     $ 281,561     $ 233,636  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before income taxes as adjusted

          

Earnings from continuing operations before income taxes

   $ 361,316     $ 547,257     $ 327,857     $ 298,838     $ (3,703

Minority interest in earnings (losses) of a consolidated subsidiary

     0       0       0       0       0  

Fixed charges

     340,062       183,229       263,069       281,561       233,636  

Capitalized interest credits

     (5,177     (7,468     (2,930     (2,092     (1,089

Amortization of capitalized interest

     2,505       2,653       2,518       2,742       3,408  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before income taxes, as adjusted

   $ 698,706     $ 725,671     $ 590,514     $ 581,049     $ 232,252  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     2.1       4.0       2.2       2.1       1.0