EX-12 7 d10750exv12.txt STATEMENT RE COMPUTATION OF EARNINGS EXHIBIT 12 RATIO OF EARNINGS TO FIXED CHARGES CMC CONSOLIDATED DEBT RATIOS TO FIXED CHARGES (DOLLARS IN THOUSANDS, EXCEPT RATIOS)
YEAR ENDED AUGUST 31, --------------------- 1999 2000 2001 2002 2003 ---- ---- ---- ---- ---- EARNINGS: Earnings Before Income Taxes $74,803 $ 70,660 $38,415 $63,138 $30,394 Interest Expense 19,650 27,319 27,608 18,708 15,338 Interest Imputed on Rent 3,033 3,555 3,828 3,925 4,476 Amortization of Capitalized Interest 602 1,367 1,370 1,307 1,437 ------- -------- ------- ------- ------- TOTAL EARNINGS 98,088 102,901 71,221 87,078 51,645 FIXED CHARGES: Interest Expense 19,650 27,319 27,608 18,708 15,338 Interest Capitalized 4,547 808 1,111 447 254 Interest Imputed on Rent 3,033 3,555 3,828 3,925 4,476 ------- -------- ------- ------- ------- TOTAL FIXED CHARGES 27,230 31,682 32,547 23,080 20,068 RATIO OF EARNINGS TO FIXED CHARGES 3.60 3.25 2.19 3.77 2.57