EX-12.1 2 dex121.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Computation of Ratios of Earnings to Fixed Charges

EXHIBIT 12.1

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

TEXAS INDUSTRIES, INC. AND SUBSIBIARIES

 

 

   Nine Months ended    
   February 29,     February 28,     Year Ended May 31,

In thousands except ratios

   2008     2007     2007     2006     2005    2004    2003

Earnings

                

Income (loss) from continuing
operations before income taxes and
changes in accounting principles

   $ 61,853     $104,601     $150,491     $ (8,814 )   $62,255    $59,096    $40,650

Fixed charges

   25,291     25,707     32,515     38,929     30,044    31,240    21,058

Amortization of capitalized interest

   825     825     1,100     1,100     1,100    1,100    1,100

Less: Interest capitalized

   (20,764 )   (8,109 )   (12,855 )   (1,526 )   --      --      --  
                                      

Adjusted earnings

   $ 67,205     $123,024     $171,251     $29,689     $93,399    $91,436    $62,808
                                      

Fixed charges

                

Interest expensed and capitalized

   $ 19,859     $  20,534     $  25,574     $31,229     $21,824    $21,012    $11,025

Net amortization of debt discount,
premium and issuance expense

   905     1,049     1,355     1,452     1,709    3,090    3,802

Interest portion of rent expense

   4,527     4,124     5,586     6,248     6,511    7,138    6,231
                                      

Total fixed charges

   $ 25,291     $  25,707     $  32,515     $38,929     $30,044    $31,240    $21,058
                                      

Ratio of earnings to fixed charges

   2.66     4.79     5.27     .76     3.11    2.93    2.98
                                      

Deficiency of earnings to cover fixed charges

   $       --       $        --       $        --       $  9,240     $      --      $      --      $      --