EX-12.1 3 d635638dex121.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 six months
ended June
 30,
    For the years ended December 31,  

dollars in thousands

   2018     2017     2017     2016     2015     2014     2013  

Fixed charges

              

Interest expense before capitalization credits

   $ 72,821     $ 76,841     $ 300,699     $ 141,543     $ 219,915     $ 236,875     $ 197,493  

Amortization of financing costs

     0       0       0       0       3,602       8,583       6,184  

One-third of rental expense

     17,044       19,682       39,363       41,686       39,552       36,103       29,959  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 89,865     $ 96,523     $ 340,062     $ 183,229     $ 263,069     $ 281,561     $ 233,636  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before income taxes as adjusted

              

Earnings from continuing operations before income taxes

   $ 248,840     $ 197,749     $ 361,316     $ 547,257     $ 327,857     $ 298,838     $ (3,703

Minority interest in earnings (losses) of a consolidated subsidiary

     0       0       0       0       0       0       0  

Fixed charges

     89,865       96,523       340,062       183,229       263,069       281,561       233,636  

Capitalized interest credits

     (1,510     (3,357     (5,177     (7,468     (2,930     (2,092     (1,089

Amortization of capitalized interest

     1,477       1,196       2,505       2,653       2,518       2,742       3,408  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before income taxes, as adjusted

   $ 338,672     $ 292,111     $ 698,706     $ 725,671     $ 590,514     $ 581,049     $ 232,252  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     3.8       3.0       2.1       4.0       2.2       2.1       1.0