EX-12.1 2 dyq3201410-qex121.htm EXHIBIT 12.1 DY Q3 2014 10-Q EX 12.1


Exhibit 12.1
Dycom Industries, Inc.
Computation of Ratio of Earnings to Fixed Charges

 
 
Nine Months Ended
 
Fiscal Year Ended
 
 
April 26, 2014
 
July 27, 2013
 
July 28, 2012
 
July 30, 2011
 
July 31, 2010
 
July 25, 2009
 
 
 
 
(Dollars in thousands)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before cumulative effect of changes in accounting principles
$
23,488

 
$
35,188

 
$
39,378

 
$
16,107

 
$
5,849

 
$
(53,094
)
 
Income tax expense (benefit)
15,649

 
23,011

 
25,183

 
12,377

 
4,881

 
(1,405
)
 
Fixed charges included in the determination of net income
30,167

 
34,774

 
24,001

 
22,185

 
20,292

 
21,921

 
Total earnings, as defined
$
69,304

 
$
92,973

 
$
88,562

 
$
50,669

 
$
31,022

 
$
(32,578
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Interest charges
$
20,256

 
$
23,335

 
$
16,745

 
$
16,017

 
$
14,272

 
$
14,743

 
Rental interest factor
9,911

 
11,439

 
7,256

 
6,168

 
6,020

 
7,178

 
Total fixed charges, as defined
$
30,167

 
$
34,774

 
$
24,001

 
$
22,185

 
$
20,292

 
$
21,921

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.3x

 
2.7x

 
3.7x

 
2.3x

 
1.5x

 
(*)

 
 
 
 
 
 
 
 
 
 
 
 
 
*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.