EX-12.1 3 dyq1fy201510qex121.htm EXHIBIT 12.1 DY Q1 FY 2015 10Q EX 12.1


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

 
 
Three Months Ended
 
Fiscal Year Ended
 
 
October 25, 2014
 
July 26, 2014
 
July 27, 2013
 
July 28, 2012
 
July 30, 2011
 
July 31, 2010
 
 
(Dollars in thousands)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before cumulative effect of changes in accounting principles
$
20,807

 
$
39,978

 
$
35,188

 
$
39,378

 
$
16,107

 
$
5,849

 
Income tax expense
13,534

 
26,341

 
23,011

 
25,183

 
12,377

 
4,881

 
Fixed charges included in the determination of net income
9,882

 
39,528

 
34,774

 
24,001

 
22,185

 
20,292

 
Total earnings, as defined
$
44,223

 
$
105,847

 
$
92,973

 
$
88,562

 
$
50,669

 
$
31,022

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Interest charges
$
6,750

 
$
26,837

 
$
23,335

 
$
16,745

 
$
16,017

 
$
14,272

 
Rental interest factor
3,132

 
12,691

 
11,439

 
7,256

 
6,168

 
6,020

 
Total fixed charges, as defined
$
9,882

 
$
39,528

 
$
34,774

 
$
24,001

 
$
22,185

 
$
20,292

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
4.5x

 
2.7x

 
2.7x

 
3.7x

 
2.3x

 
1.5x