EX-12 3 d460667dex12.htm EX-12 EX-12

Exhibit 12

SUMMIT MATERIALS, LLC AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

 

     Three Months Ended     Successor    Predecessor  

(in thousands)

    March 30,
2013		     March 31,
2012		     Year Ended
December 29,
2012		     Year Ended
December 31,
2011		     Year Ended
December 31,
2010		     August 26,
2009 to
December 31,
2009		          April 1,
2009 to
August 25,
2009		      Year
Ended
March  31,
2009		  

Loss from continuing operations before income taxes (1)

    $ (58,898 )    $ (62,692 )    $ (51,723 )    $ (2,906 )    $ (21,089 )    $ (5,040 )         $ 5,945       $ 11,381   

Add (deduct)

                       

Distributions from equity investments

      —          —          817        156        —          —             —           —     

Loss (income) from equity method investees

      517        253        (683 )      894        656        —             —           —     

Capitalized interest

      —          —          (193 )      —          (433 )      —             —           —     

Fixed Charges

      13,669        14,563        59,438        49,218        27,262               
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

       

 

 

     

 

 

  

Earnings, as defined

    $ (44,712 )    $ (47,876 )    $ 7,656      $ 47,362      $ 6,396      $ (5,040 )       $ 5,945       $ 11,381   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

       

 

 

     

 

 

  

Fixed Charges:

                       

Interest on indebtedness and amortization of deferred financing costs

      13,367        14,113      $ 58,079      $ 47,784      $ 25,430      $ 574         $ —         $ —     

Capitalized interest

      —          —          193        —          433        —             —           —     

Portion of rental expense under operating leases representative of the interest factor

      302        450        1,166        1,434        1,399        19           16         33   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

       

 

 

     

 

 

  

Total fixed charges

      13,669        14,563      $ 59,438      $ 49,218      $ 27,262      $ 593         $ 16       $ 33   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

       

 

 

     

 

 

  

Ratio of earnings
to fixed
charges (2)(3)

      N/A        N/A        0.1        1.0        0.2        N/A           364         341   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

       

 

 

     

 

 

  

 

(1) Represents earnings from continuing operations before adjustments for noncontrolling interests in consolidated subsidiaries.
(2) The ratio of earnings to fixed charges is determined by dividing earnings, as adjusted, by fixed charges. Fixed charges consist of interest on all indebtedness plus that portion of operating lease rentals representative of the interest factor (deemed to be 33% of operating lease rentals)
(3) Earnings were insufficient to cover fixed charges by $72.6 million, $77.3 million and $5.6 million for the three month period ended March 30, 2013, the three month period ended March 31, 2012 and the period from August 26, 2009 to December 31, 2009, respectively.