EX-12.1 15 a2214163zex-12_1.htm EX-12.1

Exhibit 12.1

 

Reliance Steel & Aluminum Co.

Computation of Ratio of Earnings to Fixed Charges

 

(In millions of dollars, except ratios)

 

 

 

Year Ended December 31,

 

Description

 

2008

 

2009

 

2010

 

2011

 

2012

 

Ratio of Earnings to Fixed Charges

 

8.13

 

3.00

 

4.30

 

6.86

 

8.08

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Calculation:

 

 

 

 

 

 

 

 

 

 

 

Additions:

 

 

 

 

 

 

 

 

 

 

 

Pretax Income (Before Minority Interest and Equity Investees)

 

$766.0

 

$194.1

 

$295.8

 

$509.4

 

$607.2

 

Fixed charges

 

107.3

 

97.0

 

88.8

 

86.7

 

85.5

 

Distributed Income of Equity Investees

 

 

1.1

 

0.3

 

3.9

 

2.9

 

Subtractions:

 

 

 

 

 

 

 

 

 

 

 

Minority Interest included in Pretax Income that have not incurred Fixed Charges

 

0.9

 

1.0

 

3.5

 

5.4

 

4.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Earnings

 

$872.4

 

$291.2

 

$381.4

 

$594.6

 

$690.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges Calculation:

 

 

 

 

 

 

 

 

 

 

 

Interest Expensed

 

$82.6

 

$67.5

 

$61.2

 

$59.8

 

$58.4

 

Amortized Premiums, Discounts and Capitalized Expenses Related to Indebtedness

 

2.0

 

4.3

 

3.5

 

3.6

 

2.6

 

Estimated Interest included in Rental Expense

 

22.7

 

25.2

 

24.1

 

23.3

 

24.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges

 

$107.3

 

$97.0

 

$88.8

 

$86.7

 

$85.5