EX-12.1 4 g27407exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Vulcan Materials Company and Subsidiary Companies
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                                 
    March 31     For the years ended December 31
dollars in thousands   2011     2010     2009     2008     2007     2006  
 
Fixed Charges
                                               
Interest expense before capitalization credits
  $ 42,629     $ 182,456     $ 183,681     $ 185,176     $ 53,348     $ 31,310  
Amortization of financing costs
    555       2,784       2,302       1,880       249       363  
One-third of rental expense
    6,026       24,134       26,237       30,800       27,358       27,240  
 
Total fixed charges
  $ 49,210     $ 209,374     $ 212,220     $ 217,856     $ 80,955     $ 58,913  
 
 
                                               
Earnings before income taxes as adjusted
                                               
Earnings from continuing operations before income taxes
    ($102,052 )     ($192,206 )     ($19,221 )   $ 75,058     $ 667,502     $ 703,491  
Minority interest in earnings (losses) of a consolidated subsidiary
    0       0       0       (283 )     151       0  
Fixed charges
    49,210       209,374       212,220       217,856       80,955       58,913  
Capitalized interest credits
    (516 )     (3,637 )     (10,721 )     (14,243 )     (5,130 )     (5,000 )
Amortization of capitalized interest
    825       3,422       2,727       2,147       2,777       1,241  
 
Total earnings before income taxes as adjusted
    ($52,533 )   $ 16,953     $ 185,005     $ 280,535     $ 746,255     $ 758,645  
 
 
                                               
Ratio of earnings to fixed charges
          0.1       0.9       1.3       9.2       12.9