EX-12 6 d12154exv12.txt EX-12 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)
THREE MONTHS ENDED NOVEMBER 30, YEAR ENDED AUGUST 31, ------------------- ---------------------------------------------------- 2003 2002 2003 2002 2001 2000 1999 -------- -------- -------- -------- -------- -------- -------- EARNINGS: Earnings before taxes .................... $ 20,013 $ 3,499 $ 30,394 $ 63,138 $ 38,415 $ 70,660 $ 74,803 Interest expense ......................... 5,094 3,994 15,338 18,708 27,608 27,319 19,650 Interest imputed on rent ................. 1,209 1,198 4,476 3,925 3,828 3,555 3,033 Amortization of capitalized interest ..... 340 335 1,437 1,307 1,370 1,367 602 -------- -------- -------- -------- -------- -------- -------- Total Earnings ...................... $ 26,656 $ 9,026 $ 51,645 $ 87,078 $ 71,221 $102,901 $ 98,088 ======== ======== ======== ======== ======== ======== ======== FIXED CHARGES: Interest expense ......................... $ 5,094 $ 3,994 $ 15,338 $ 18,708 $ 27,608 $ 27,319 $ 19,650 Interest capitalized ..................... 48 27 254 447 1,111 808 4,547 Interest imputed on rent ................. 1,209 1,198 4,476 3,925 3,828 3,555 3,033 -------- -------- -------- -------- -------- -------- -------- Total Fixed Charges ................. $ 6,351 $ 5,219 $ 20,068 $ 23,080 $ 32,547 $ 31,682 $ 27,230 ======== ======== ======== ======== ======== ======== ======== Ratio of Earnings to Fixed Charges .......... 4.20 1.73 2.57 3.77 2.19 3.25 3.60