NUCOR CORP - FORM 10-Q - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - May 11, 2010

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EXCEL - IDEA: XBRL DOCUMENT - NUCOR CORPFinancial_Report.xls
10-Q - FORM 10-Q - NUCOR CORPd10q.htm
EX-32 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO SECTION 906 - NUCOR CORPdex32.htm
EX-10 - RETIREMENT SEPERATION WAIVER AND RELEASE AGREEMENT OF JOSEPH A. RUTKOWSKI - NUCOR CORPdex10.htm
EX-31 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO SECTION 302 - NUCOR CORPdex31.htm
EX-31.1 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO SECTION 302 - NUCOR CORPdex311.htm
EX-32.1 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO SECTION 906 - NUCOR CORPdex321.htm

Exhibit 12

Computation of Ratio of Earnings to Fixed Charges

 

     Year-ended December 31,     Three Months  Ended
April 3, 2010		  
     2005     2006     2007     2008     2009    
     (In thousands, except ratios)        

Earnings

             

Earnings/(loss) before income taxes and noncontrolling interests

    $ 2,137,733      $ 2,911,556      $ 2,546,816      $ 3,104,391      $ (413,978 )    $ 64,036   

Plus/(Less): losses/(earnings) from equity investments

      (476 )      17,690        24,618        36,920        82,341        18,377   

Plus: fixed charges (includes interest expense and amortization of bond issuance costs and settled swaps and estimated interest on rent expense)

      36,571        40,351        55,381        146,360        168,317        39,828   

Plus: amortization of capitalized interest

      216        216        216        300        962        558   

Plus: distributed income of equity investees

      —          3,172        8,072        20,117        7,373        —     

Less: interest capitalized

      —          —          (3,700 )      (10,020 )      (16,390 )      (70 ) 

Less: pre-tax earnings in noncontrolling interests in subsidiaries that have not incurred fixed charges

      (110,650 )      (219,121 )      (293,604 )      (314,277 )      (57,865 )      (10,431 ) 
                                                

Total earnings/(loss) before fixed charges

    $ 2,063,394      $ 2,753,864      $ 2,337,799      $ 2,983,791      $ (229,240 )    $ 112,298   
                                                

Fixed charges

             

Interest cost and amortization of bond issuance and settled swaps

      36,571        40,351        55,052        144,845        166,313        39,405   

Estimated interest on rent expense

      —          —          329        1,515        2,004        423   
                                                

Total Fixed Charges

      36,571        40,351        55,381        146,360        168,317        39,828   
                                                

Ratio of earnings to fixed charges

      56.42        68.25        42.21        20.39        *        2.82   

 

* Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges. The coverage deficiency was $397,557.

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