EX-12 2 g66702ex12.txt COMPUTATION OF RATIO OF EARNINGS 1 EXHIBIT 12 VULCAN MATERIALS COMPANY AND SUBSIDIARY COMPANIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Years Ended December 31 Amounts in Thousands
2000 1999 1998 1997 1996 -------------------------------------------------------------------------------------------------------------------------- Fixed charges: Interest expenses before capitalization Credits $ 54,236 $ 53,022 $ 7,224 $ 8,074 $ 9,263 Amortization of financing costs 348 267 93 104 164 One-third of rental expense 21,668 20,798 13,668 9,735 9,663 -------- -------- -------- -------- -------- Total fixed charges $ 76,252 $ 74,087 $ 20,985 $ 17,913 $ 19,090 ======== ======== ======== ======== ======== Net earnings 233,551 239,693 255,908 209,145 188,595 Provisions for income taxes 100,187 111,868 118,936 91,356 96,985 Fixed charges 76,252 74,087 20,985 17,913 19,090 Capitalized interest credits (6,150) (4,445) (442) (1,160) (627) Amortization of capitalized interest 686 693 715 708 674 -------- -------- -------- -------- -------- Earnings before income taxes as adjusted $404,526 $421,896 $396,102 $317,962 $304,717 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 5.3 5.7 18.9 17.8 16.0