Attached files

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10-Q - FORM 10-Q - TEXAS INDUSTRIES INCd10q.htm
EX-10.5 - AMENDED SECURITY AGREEMENT DATED JUNE 19, 2009 - TEXAS INDUSTRIES INCdex105.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER - TEXAS INDUSTRIES INCdex312.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - TEXAS INDUSTRIES INCdex311.htm
EX-32.1 - SECTION 1350 CERTIFICATION OF CEO - TEXAS INDUSTRIES INCdex321.htm
EX-32.2 - SECTION 1350 CERTIFICATION OF CFO - TEXAS INDUSTRIES INCdex322.htm
EX-10.3 - SECOND AMENDED CREDIT AGREEMENT DATED 6-19-2009 - TEXAS INDUSTRIES INCdex103.htm
EX-10.27 - FORM OF 2005 EXECUTIVE FINANCIAL SECURITY PLAN (LUMP SUM FORMULA) - TEXAS INDUSTRIES INCdex1027.htm
EX-10.26 - FORM OF 2005 EXECUTIVE FINANCIAL SECURITY PLAN (ANNUITY FORMULA) - TEXAS INDUSTRIES INCdex1026.htm
EX-15.1 - LETTER RE UNAUDITED INTERIM FINANCIAL INFORMATION - TEXAS INDUSTRIES INCdex151.htm

EXHIBIT 12.1

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

TEXAS INDUSTRIES, INC. AND SUBSIBIARIES

 

     Six Months ended
November 30,
    Year Ended May 31,

In thousands except ratios

   2009     2008     2009     2008     2007     2006     2005

Earnings

              

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

   $ (3,391   $ 19,083      $ (30,421   $ 127,359      $ 156,563      $ (8,814   $ 62,255

Fixed charges

     29,405        25,011        54,182        35,012        32,515        38,929        30,044

Amortization of capitalized interest

     1,157        1,157        2,314        1,201        1,100        1,100        1,100

Less: Interest capitalized

     —          (4,988     (14,394     (26,462     (12,855     (1,526     —  
                                                      

Adjusted earnings

   $ 27,171      $ 40,263      $ 11,681      $ 137,110      $ 177,323      $ 29,689      $ 93,399
                                                      

Fixed charges

              

Interest expense

   $ 23,278      $ 14,628      $ 28,418      $ 1,254      $ 12,719      $ 29,703      $ 21,824

Interest capitalized

     —          4,988        14,394        26,462        12,855        1,526        —  

Net amortization of debt discount, premium and issuance expense

     3,330        1,913        4,868        1,251        1,355        1,452        1,709

Interest portion of rent expense

     2,797        3,482        6,502        6,045        5,586        6,248        6,511
                                                      

Total fixed charges

   $ 29,405      $ 25,011      $ 54,182      $ 35,012      $ 32,515      $ 38,929      $ 30,044
                                                      

Ratio of earnings to fixed charges

     .92        1.61        .22        3.92        5.45        .76        3.11
                                                      

Deficiency of earnings to cover fixed charges

   $ 2,234      $ —        $ 42,501      $ —        $ —        $ 9,240      $ —