EX-12.1 8 exhibit121.htm EXHIBIT 12.1 exhibit121.htm
Exhibit 12.1
 
Dycom Industries, Inc.
                             
Computation of Ratio of Earnings to Fixed Charges
                             
                               
   
Fiscal Year Ended
 
   
July 28, 2012
   
July 30, 2011
   
July 31, 2010
   
July 25, 2009
   
July 26, 2008
 
                               
   
(Dollars in thousands)
 
Earnings, as defined:
                             
Income (loss) from continuing operations before cumulative effect of changes in accounting principles
  $ 39,378     $ 16,107     $ 5,849     $ (53,094 )   $ 24,404  
Income tax expense (benefit)
    25,183       12,377       4,881       (1,405 )     13,180  
Fixed charges included in the determination of net income
    24,001       22,185       20,292       21,921       20,520  
Total earnings, as defined
  $ 88,562     $ 50,669     $ 31,022     $ (32,578 )   $ 58,104  
                                         
Fixed charges, as defined:
                                       
Interest charges
  $ 16,745     $ 16,017     $ 14,272     $ 14,743     $ 13,096  
Rental interest factor
    7,256       6,168       6,020       7,178       7,424  
Total fixed charges, as defined
  $ 24,001     $ 22,185     $ 20,292     $ 21,921     $ 20,520  
                                         
                                         
Ratio of earnings to fixed charges
    3.7 x     2.3 x     1.5 x     ( *)     2.8 x
                                         
*The ratio of earnings to fixed charges was less than one-to-one for fiscal 2009 and earnings were insufficient to cover fixed charges by $76.4 million.