EX-12 3 g99746exv12.htm EX-12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX-12 COMPUTATION OF RATIO EARNING FIXED CHARGES
 

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
                                         
    2005     2004     2003     2002     2001  
 
Fixed charges:
                                       
Interest expenses before capitalization credits
  $ 39,080     $ 42,260     $ 55,345     $ 56,601     $ 62,456  
Amortization of financing costs
    711       611       291       298       494  
One-third of rental expense
    22,520       16,553       15,140       16,976       18,281  
 
                             
Total fixed charges
  $ 62,311     $ 59,424     $ 70,776     $ 73,875     $ 81,231  
 
                             
 
                                       
Earnings from continuing operations before income taxes
  $ 480,237     $ 375,566     $ 335,080     $ 329,195     $ 339,932  
Fixed charges
    62,311       59,424       70,776       73,875       81,231  
Capitalized interest credits
    (1,934 )     (1,980 )     (2,116 )     (2,896 )     (2,708 )
Amortization of capitalized interest
    1,054       839       624       463       362  
 
                             
Earnings before income taxes as adjusted
  $ 541,668     $ 433,849     $ 404,364     $ 400,637     $ 418,817  
 
                             
 
                                       
Ratio of earnings to fixed charges
    8.7       7.3       5.7       5.4       5.2