Attached files
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 |
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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 |
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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 | $ | | |||||||||||||