EXHIBIT 12.1

STEEL DYNAMICS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(DOLLARS IN THOUSANDS)

	2014			2013			2012			2011			2010
Interest expense, including amortization of debt issuance costs	$	137,263		$	127,728		$	158,585		$	176,977		$	170,229
Capitalized interest	2,471			4,592			1,394			1,730			6,968
Fixed charges (a)	139,734			132,320			159,979			178,707			177,197
Income before taxes and before adjustment for noncontrolling interests	164,803			262,830			204,066			424,319			213,459
Amortization of capitalized interest	7,194			6,832			6,778			6,124			5,885
Less capitalized interest	(2,471		)	(4,592		)	(1,394		)	(1,730		)	(6,968		)
Adjusted earnings (b)	309,260			397,390			369,429			607,420			389,573
Ratio (b) / (a)	2.21x			3.00x			2.31x			3.40x			2.20x

For purposes of calculating our ratio of earnings to fixed charges, earnings consist of earnings from continuing operations before income taxes, extraordinary items and before adjustment for noncontrolling interests, adjusted for the portion of fixed charges deducted from the earnings, plus amortization of capitalized interest. Fixed charges consist of interest on all indebtedness, including capitalized interest, and amortization of debt issuances costs.