EX-12.1 4 d366575dex121.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

 

In thousands except ratios

    2012     2011     2010     2009     2008  

Earnings

           

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

    $ 8,472      $ (106,807 )    $ (61,991 )    $ (30,421 )    $ 127,359   

Fixed charges

      72,866        70,937        57,686        54,182        35,012   

Amortization of capitalized interest

      2,314        2,314        2,314        2,314        1,201   

Less: Interest capitalized

      (33,685 )      (18,694 )      —        (14,394 )      (26,462 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Adjusted earnings (loss)

    $ 49,967      $ (52,250 )    $ (1,991 )    $ 11,681      $ 137,110   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges

           

Interest expense

    $ 32,587      $ 43,975      $ 45,434      $ 28,418      $ 1,254   

Interest capitalized

      33,685        18,694        —        14,394        26,462   

Net amortization of debt discount, premium and issuance expense

      2,248        3,608        6,806        4,868        1,251   

Interest portion of rent expense

      4,346        4,660        5,446        6,502        6,045   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 72,866      $ 70,937      $ 57,686      $ 54,182      $ 35,012   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      .69        —        —        .22        3.92   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Deficiency of earnings to cover fixed charges

    $ 22,899      $ 123,187      $ 59,677      $ 42,501      $ —