EX-12.1 3 mtz12311210-kex121.htm EXHIBIT MTZ 12.31.12 10-K EX 12.1


Exhibit 12.1

Statement Regarding Computation of Ratio of Earnings to Fixed Charges


Ratio of Earnings to Fixed Charges (dollar amounts in thousands):


 
For the Years Ended December 31,
 
2012
 
2011
 
2010
 
2009
 
2008
Earnings:
 
 
 
 
 
 
 
 
 
Income from continuing operations before provision for income taxes
$
192,719

 
$
159,280

 
$
114,072

 
$
50,476

 
$
42,623

Add:
 
 
 
 
 
 
 
 
 
Fixed charges
111,949

 
91,259

 
73,308

 
50,288

 
35,790

Less: Undistributed earnings (losses) from equity method investees
—

 
39

 
(321
)
 
 
 
 
Total earnings
$
304,668

 
$
250,500

 
$
187,701

 
$
100,764

 
$
78,413

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
37,784

 
$
35,006

 
$
30,220

 
$
25,916

 
$
17,671

Estimate of interest expense within rental expense
74,165

 
56,253

 
43,088

 
24,372

 
18,119

Total fixed charges
$
111,949

 
$
91,259

 
$
73,308

 
$
50,288

 
$
35,790

Ratio of earnings to fixed charges
2.7

 
2.7

 
2.6

 
2.0

 
2.2