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 SUBSIDIARIES

 

     Three Months ended

August 31,

 

 

  Year Ended May 31,

In thousands except ratios

   2008     2007     2008     2007     2006     2005    2004

Earnings

               

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

   $15,389     $26,087     $126,673     $150,491     $(8,814 )   $62,255    $59,096

Fixed charges

   10,812     7,455     35,012     32,515     38,929     30,044    31,240

Amortization of capitalized interest

   578     275     1,201     1,100     1,100     1,100    1,100

Less: Interest capitalized

   (1,786 )   (6,090 )   (26,462 )   (12,855 )   (1,526 )   --      --  
                                       

Adjusted earnings

   $24,993     $27,727     $136,424     $171,251     $29,689     $93,399    $91,436
                                       

Fixed charges

               

Interest expensed and capitalized

   $  8,522     $  5,781     $  27,716     $  25,574     $31,229     $21,824    $21,012

Net amortization of debt discount,
premium and issuance expense

   509     309     1,251     1,355     1,452     1,709    3,090

Interest portion of rent expense

   1,781     1,365     6,045     5,586     6,248     6,511    7,138
                                       

Total fixed charges

   $10,812     $  7,455     $  35,012     $  32,515     $38,929     $30,044    $31,240
                                       

Ratio of earnings to fixed charges

   2.31     3.72     3.90     5.27     .76     3.11    2.93
                                       

Deficiency of earnings to cover fixed charges

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