EX-12.1 2 dyq3ex1212013.htm EXHIBIT 12.1 DY Q3 EX 12.1 2013


Exhibit 12.1
Dycom Industries, Inc.
Computation of Ratio of Earnings to Fixed Charges

 
 
Nine Months Ended
 
Fiscal Year Ended
 
 
April 27, 2013
 
July 28, 2012
 
July 30, 2011
 
July 31, 2010
 
July 25, 2009
 
July 26, 2008
 
 
(Dollars in thousands)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before cumulative effect of changes in accounting principles
$
20,522

 
$
39,378

 
$
16,107

 
$
5,849

 
$
(53,094
)
 
$
24,404

 
Income tax expense (benefit)
13,631

 
25,183

 
12,377

 
4,881

 
(1,405
)
 
13,180

 
Fixed charges included in the determination of net income
24,561

 
24,001

 
22,185

 
20,292

 
21,921

 
20,520

 
Total earnings, as defined
$
58,714

 
$
88,562

 
$
50,669

 
$
31,022

 
$
(32,578
)
 
$
58,104

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Interest charges
$
16,584

 
$
16,745

 
$
16,017

 
$
14,272

 
$
14,743

 
$
13,096

 
Rental interest factor
7,977

 
7,256

 
6,168

 
6,020

 
7,178

 
7,424

 
Total fixed charges, as defined
$
24,561

 
$
24,001

 
$
22,185

 
$
20,292

 
$
21,921

 
$
20,520

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.4x

 
3.7x

 
2.3x

 
1.5x

 
(*)

 
2.8x

 
 
 
 
 
 
 
 
 
 
 
 
 
*The ratio of earnings to fixed charges was less than one-to-one for fiscal 2009 and earnings were insufficient to cover fixed charges by $76.4 million.