EX-12.1 4 d470220dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

COMMERCIAL METALS COMPANY AND SUBSIDIARIES CONSOLIDATED

RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands, except ratios)

 

     Six Months
Ended
February 28, 2017
    Six Months
Ended
February 29, 2016
    Fiscal Years Ended August 31,  
         2016     2015     2014     2013     2012  

Earnings (loss) from continuing operations before taxes

     49,456       50,318     $ 85,190     $ 145,975     $ 164,957     $ 109,429     $ 126,010  

Less: Net earnings (loss) attributable to noncontrolling interests

     —         —         —         —         1       4       6  

Capitalized interest amortization

     1,031       1,015       2,043       1,191       1,371       2,305       2,341  

Fixed charges

     35,722       42,257       78,932       93,024       90,242       80,779       81,034  

Less: Capitalized interest

     (3,720     (969     (3,581     (810     (563     (1,004     (1,339
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

     82,489       92,621     $ 162,584     $ 239,380     $ 256,006     $ 191,505     $ 208,040  

Fixed Charges:

              

Interest expense

     29,460       35,898     $ 65,812     $ 78,570     $ 77,600     $ 69,443     $ 70,009  

Portion of rental expense representative of interest factor

     6,263       6,360       13,120       14,454       12,642       11,336       11,025  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     35,723       42,258     $ 78,932     $ 93,024     $ 90,242     $ 80,779     $ 81,034  

Ratio of earnings to fixed charges

     2.31       2.19       2.06       2.57       2.84       2.37       2.57