STEEL DYNAMICS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)

		2006			2007			2008			2009			2010

Interest expense, including amortization of debt issuance costs		$	37,492		$	60,526		$	144,574		$	141,360		$	170,229
Capitalized interest			1,686			13,717			17,822			20,919			6,968

	Fixed charges (a)		39,178			74,243			162,396			162,279			177,197
Income (loss) before taxes and before adjustment for noncontrolling interests			631,555			629,829			734,941			(18,237	)		213,459
Amortization of capitalized interest			4,814			5,069			4,670			4,259			5,885
Less capitalized interest			(1,686	)		(13,717	)		(17,822	)		(20,919	)		(6,968	)

	Adjusted earnings (b)		673,861			695,424			884,185			127,382			389,573

Ratio (b) / (a)			17.20x			9.37x			5.44x			.78x			2.20x

For purposes of calculating our ratio of earnings to fixed charges, earnings consist of earnings from continuing operations before income taxes, extraordinary items and before adjustment for noncontrolling interests, adjusted for the portion of fixed charges deducted from the earnings, plus amortization of capitalized interest. Fixed charges consist of interest on all indebtedness, including capitalized interest, and amortization of debt issuances costs.