EX-12.1 2 dyq1201610qex121.htm EXHIBIT 12.1 Exhibit


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

 
 
Three Months Ended
 
Fiscal Year Ended
 
 
October 24, 2015
 
July 25,
2015
 
July 26, 2014
 
July 27, 2013
 
July 28, 2012
 
July 30, 2011
 
 
 
 
(Dollars in thousands)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before cumulative effect of changes in accounting principles
$
30,824

 
$
84,324

 
$
39,978

 
$
35,188

 
$
39,378

 
$
16,107

 
Income tax expense
18,631

 
51,260

 
26,341

 
23,011

 
25,183

 
12,377

 
Fixed charges included in the determination of net income
12,880

10,567

39,970

 
39,528

 
34,774

 
24,001

 
22,185

 
Total earnings, as defined
$
62,335

 
$
175,554

 
$
105,847

 
$
92,973

 
$
88,562

 
$
50,669

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Interest charges
$
9,135

 
$
27,029

 
$
26,837

 
$
23,335

 
$
16,745

 
$
16,017

 
Rental interest factor
3,745

 
12,941

 
12,691

 
11,439

 
7,256

 
6,168

 
Total fixed charges, as defined
$
12,880

 
$
39,970

 
$
39,528

 
$
34,774

 
$
24,001

 
$
22,185

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
4.8x

 
4.4x

 
2.7x

 
2.7x

 
3.7x

 
2.3x