METALS USA INC - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 16, 2011

Attached files

file filename
EX-31.3 - SECTION 302 CEO CERTIFICATION OF METALS USA, INC. - METALS USA INCdex313.htm
EX-31.4 - SECTION 302 CFO CERTIFICATION OF METALS USA, INC. - METALS USA INCdex314.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION OF FLAG INTERMEDIATE HOLDINGS CORPORATION - METALS USA INCdex311.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION OF FLAG INTERMEDIATE HOLDINGS CORPORATION - METALS USA INCdex312.htm
EX-32.4 - SECTION 906 CFO CERTIFICATION OF METALS USA, INC. - METALS USA INCdex324.htm
EX-18.1 - PREFERABILITY LETTER - METALS USA INCdex181.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION OF FLAG INTERMEDIATE HOLDINGS CORPORATION - METALS USA INCdex321.htm
EX-21.1 - LIST OF SUBSIDIARIES OF THE COMPANY - METALS USA INCdex211.htm
EX-32.3 - SECTION 906 CEO CERTIFICATION OF METALS USA, INC. - METALS USA INCdex323.htm
EX-10.10 - AMENDED AND RESTATED INVESTORS RIGHTS AGREEMENT - METALS USA INCdex1010.htm
10-K - FORM 10-K - METALS USA INCd10k.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION OF FLAG INTERMEDIATE HOLDINGS CORPORATION - METALS USA INCdex322.htm

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

Flag Intermediate Holdings Corporation

 

     Years Ended December 31,  
     2006     2007     2008     2009     2010  
     (dollars in millions)  

COMPUTATION OF EARNINGS

           

Income (loss) before taxes

    $ 65.4      $ 55.9      $ 152.7        (53.7 )      23.1   

Net interest expense

      54.1        57.6        54.5        44.9        37.2   

Interest portion of operating lease expense

      6.1        6.7        6.4        6.3        4.9   
                                        

Earnings

    $ 125.6      $ 120.2      $ 213.6      $ (2.5 )    $ 65.2   
                                        

COMPUTATION OF FIXED CHARGES

           

Net interest expense

    $ 54.1      $ 57.6      $ 54.5      $ 44.9      $ 37.2   

Capitalized interest

      —          —          —          —          —     

Interest portion of operating lease expense

      6.1        6.7        6.4        6.3        4.9   
                                        

Fixed Charges

    $ 60.2      $ 64.3      $ 60.9      $ 51.2      $ 42.1   
                                        

RATIO OF EARNINGS TO FIXED CHARGES

      2.1 x      1.9 x      3.5 x      (0.0 )x      1.5 x 
                                        

DEFICIENCY OF EARNINGS TO FIXED CHARGES

    $ —        $ —        $ —        $ 53.7      $ —     
                                        

METALS USA INC Reports