EX-12.1 4 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 SUBSIDIARIES

 

     2008     2007     2006     2005    2004
     In thousands except ratios

Earnings

            

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

    $ 126,673     $ 150,491     $ (8,814 )   $ 62,255    $ 59,096

Fixed charges

      35,012       32,515       38,929       30,044      31,240

Amortization of capitalized interest

      1,201       1,100       1,100       1,100      1,100

Less: Interest capitalized

      (26,462 )     (12,855 )     (1,526 )     —      —
                                     

Adjusted earnings

    $ 136,424     $ 171,251     $ 29,689     $ 93,399    $ 91,436
                                     

Fixed charges

            

Interest expense

    $ 1,254     $ 12,719     $ 29,703     $ 21,824    $ 21,012

Interest capitalized

      26,462       12,855       1,526       —      —

Net amortization of debt discount, premium and issuance expense

      1,251       1,355       1,452       1,709      3,090

Interest portion of rent expense

      6,045       5,586       6,248       6,511      7,138
                                     

Total fixed charges

    $ 35,012     $ 32,515     $ 38,929     $ 30,044    $ 31,240
                                     

Ratio of earnings to fixed charges

      3.90       5.27       .76       3.11      2.93
                                     

Deficiency of earnings to cover fixed charges

    $ —     $ —     $ 9,240     $ —    $ —