Exhibit 12
Nucor Corporation
2012 Form 10-Q
Computation of Ratio of Earnings to Fixed Charges
| Year-ended December 31, | Nine
Months Ended September 29, 2012 |
Nine
Months Ended October 1, 2011 |
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| 2007 | 2008 | 2009 | 2010 | 2011 | ||||||||||||||||||||||||
| (In thousands, except ratios) | ||||||||||||||||||||||||||||
| Earnings |
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| Earnings/(loss) before income taxes and noncontrolling interests |
$ | 2,546,816 | $ | 3,104,391 | $ | (413,978 | ) | $ | 267,115 | $ | 1,251,812 | $ | 633,030 | $ | 1,027,757 | |||||||||||||
| Plus: losses from equity investments |
24,618 | 36,920 | 82,341 | 32,082 | 10,043 | 9,093 | 14,190 | |||||||||||||||||||||
| Plus: fixed charges (includes interest expense and amortization of bond issuance costs and settled swaps and estimated interest on rent expense) |
55,381 | 146,360 | 168,317 | 163,626 | 183,541 | 140,442 | 139,541 | |||||||||||||||||||||
| Plus: amortization of capitalized interest |
216 | 300 | 962 | 2,332 | 2,724 | 2,483 | 1,917 | |||||||||||||||||||||
| Plus: distributed income of equity investees |
8,072 | 20,117 | 7,373 | 4,923 | 3,883 | 3,884 | 3,883 | |||||||||||||||||||||
| Less: interest capitalized |
(3,700 | ) | (10,020 | ) | (16,390 | ) | (940 | ) | (3,509 | ) | (7,393 | ) | (2,349 | ) | ||||||||||||||
| Less: pre-tax earnings in noncontrolling interests in subsidiaries that have not incurred fixed charges |
(293,604 | ) | (314,277 | ) | (57,865 | ) | (73,110 | ) | (83,591 | ) | (65,160 | ) | (62,093 | ) | ||||||||||||||
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| Total earnings/(loss) before fixed charges |
$ | 2,337,799 | $ | 2,983,791 | $ | (229,240 | ) | $ | 396,028 | $ | 1,364,903 | $ | 716,379 | $ | 1,122,846 | |||||||||||||
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| Fixed charges |
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| Interest cost and amortization of bond issuance and settled swaps |
$ | 55,052 | $ | 144,845 | $ | 166,313 | $ | 162,213 | $ | 182,321 | $ | 139,647 | $ | 138,625 | ||||||||||||||
| Estimated interest on rent expense |
329 | 1,515 | 2,004 | 1,413 | 1,220 | 795 | 916 | |||||||||||||||||||||
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| Total fixed charges |
$ | 55,381 | $ | 146,360 | $ | 168,317 | $ | 163,626 | $ | 183,541 | $ | 140,442 | $ | 139,541 | ||||||||||||||
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| Ratio of earnings to fixed charges |
42.21 | 20.39 | * | 2.42 | 7.44 | 5.10 | 8.05 | |||||||||||||||||||||
| * | Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges. The coverage deficiency was $397,557. |