Attached files
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 |
2010 | 2009 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||
| Earnings |
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| Income (loss) from continuing operations before income taxes and changes in accounting principles |
$ | (38,560 | ) | $ | 3,259 | $ | (61,991 | ) | $ | (30,421 | ) | $ | 127,359 | $ | 156,563 | $ | (8,814 | ) | |||||||||
| Fixed charges |
15,635 | 14,715 | 57,686 | 54,182 | 35,012 | 32,515 | 38,929 | ||||||||||||||||||||
| Amortization of capitalized interest |
579 | 579 | 2,314 | 2,314 | 1,201 | 1,100 | 1,100 | ||||||||||||||||||||
| Less: Interest capitalized |
-- | -- | -- | (14,394 | ) | (26,462 | ) | (12,855 | ) | (1,526 | ) | ||||||||||||||||
| Adjusted earnings (loss) |
$ | (22,346 | ) | $ | 18,553 | $ | (1,991 | ) | $ | 11,681 | $ | 137,110 | $ | 177,323 | $ | 29,689 | |||||||||||
| Fixed charges |
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| Interest expense |
$ | 12,866 | $ | 11,602 | $ | 45,434 | $ | 28,418 | $ | 1,254 | $ | 12,719 | $ | 29,703 | |||||||||||||
| Interest capitalized |
-- | -- | -- | 14,394 | 26,462 | 12,855 | 1,526 | ||||||||||||||||||||
| Net amortization of debt discount, premium and issuance expense |
1,545 | 1,642 | 6,806 | 4,868 | 1,251 | 1,355 | 1,452 | ||||||||||||||||||||
| Interest portion of rent expense |
1,224 | 1,471 | 5,446 | 6,502 | 6,045 | 5,586 | 6,248 | ||||||||||||||||||||
| Total fixed charges |
$ | 15,635 | $ | 14,715 | $ | 57,686 | $ | 54,182 | $ | 35,012 | $ | 32,515 | $ | 38,929 | |||||||||||||
| Ratio of earnings to fixed charges |
-- | 1.26 | -- | .22 | 3.92 | 5.45 | .76 | ||||||||||||||||||||
| Deficiency of earnings to cover fixed charges |
$ | 37,981 | $ | -- | $ | 59,677 | $ | 42,501 | $ | -- | $ | -- | $ | 9,240 | |||||||||||||