EX-12.1 3 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Nucor Corporation

Ratio of Earnings to Fixed Charges

 

     Year Ended December 31,     Nine Months Ended  
          

September 30,

2006

   

September 29,

2007

 
     2002     2003     2004     2005     2006      
     (In thousands, except ratios)              
Earnings       

Earnings before income taxes

   $ 226,985     $ 69,978     $ 1,725,891     $ 2,027,083     $ 2,692,435     $ 2,081,851     $ 1,706,802  

Plus: minority interests

     79,408       23,904       80,840       110,650       219,121       147,568       214,653  

Plus/(Less): losses/(earnings) from equity investments

     2,998       97       (4,070 )     (476 )     17,690       13,360       17,188  

Plus: fixed charges (includes interest expense and amortization of bond issuance costs and settled swaps)

     22,918       27,151       30,645       36,571       40,351       30,096       38,365  

Plus: amortization of capitalized interest

     —         —         108       216       216       162       162  

Plus: distributed income of equity investees

     —         —         —         —         3,172       —         3,725  

Less: interest capitalized

     —         (850 )     (1,310 )     —         —         —         (1,670 )

Less: minority interests in subsidiaries that have not incurred fixed charges

     (79,408 )     (23,904 )     (80,840 )     (110,650 )     (219,121 )     (147,568 )     (214,304 )
                                                        
   $ 252,901     $ 96,376     $ 1,751,264     $ 2,063,394     $ 2,753,864     $ 2,125,469     $ 1,764,921  
                                                        
Fixed charges       

Interest expense and amortization of bond issuance and settled swaps

     22,918       27,151       30,645       36,571       40,351       30,096       38,365  
                                                        

Ratio of earnings to fixed charges

     11.04       3.55       57.15       56.42       68.25       70.62       46.00