EX-12 2 d892299dex12.htm EX-12 EX-12

Exhibit 12

Nucor Corporation

2015 Form 10-Q

 

     Computation of Ratio of Earnings to Fixed Charges              
     Year-ended December 31,     Three Months
Ended
    Three Months
Ended
 
                                   April 4,     April 5,  
     2010     2011     2012     2013     2014     2015     2014  
     (In thousands, except ratios)                    

Earnings

              

Earnings/(loss) before income taxes and noncontrolling interests

   $ 267,115      $ 1,251,812      $ 852,940      $ 791,123      $ 1,204,577      $ 119,045      $ 207,501   

Plus: (earnings)/losses from equity investments

     32,082        10,043        13,323        (9,297     (13,505     259        (4,474

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

     163,626        183,541        179,169        164,128        178,240        45,444        43,806   

Plus: amortization of capitalized interest

     2,332        2,724        2,550        3,064        4,166        1,003        1,180   

Plus: distributed income of equity investees

     4,923        3,883        9,946        8,708        53,738                 

Less: interest capitalized

     (940     (3,509     (4,715     (10,913     (2,946     (91     (1,602
Less: pre-tax earnings in noncontrolling interests in subsidiaries that have not incurred fixed charges      (73,110     (83,591     (88,507     (97,504     (101,844     (16,492     (18,665
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings/(loss) before fixed charges

   $ 396,028      $ 1,364,903      $ 964,706      $ 849,309      $ 1,322,426      $ 149,168      $ 227,746   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

              

Interest cost and amortization of bond issuance and settled swaps

   $ 162,213      $ 182,321      $ 178,218      $ 162,899      $ 177,088      $ 45,160      $ 43,496   

Estimated interest on rent expense

     1,413        1,220        951        1,229        1,152        284        310   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 163,626      $ 183,541      $ 179,169      $ 164,128      $ 178,240      $ 45,444      $ 43,806   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     2.42        7.44        5.38        5.17        7.42        3.28        5.20