EX-12.1 6 d388029dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(add 000, except ratio)

 

     For the Three Months
Ended March 31,
    For the Year Ended December 31,  
     2017     2016     2015     2014     2013      2012  

EARNINGS:

             

Earnings before income taxes*

   $ 56,862     $ 607,086     $ 413,655     $ 250,485     $ 166,131      $ 101,860  

Loss (Gain) from less than 50%-owned associated companies, net

     (804     (10,499     (7,694     (931     241        1,393  

Interest expense**

     20,851       81,677       76,287       66,067       53,467        53,339  

Portion of rents representative of an interest factor

     22,399       23,585       21,136       15,739       12,944        13,647  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Adjusted Earnings and Fixed Charges

   $ 99,308     $ 701,848     $ 503,384     $ 331,360     $ 232,783      $ 170,239  

FIXED CHARGES:

             

Interest expense**

   $ 20,851     $ 81,677     $ 76,287     $ 66,067     $ 53,467      $ 53,339  

Capitalized interest

     788       3,543       5,832       8,033       1,792        2,537  

Portion of rents representative of an interest factor

     22,399       23,585       21,136       15,739       12,944        13,647  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Total Fixed Charges

   $ 44,038     $ 108,805     $ 103,255     $ 89,839     $ 68,203      $ 69,523  

Ratio of Earnings to Fixed Charges

     2.26       6.45       4.88       3.69       3.41        2.45  

 

* Represents earnings from continuing operations less net earnings (loss) attributable to noncontrolling interests.
** Interest expense excluded $159 for the three months ended March 31, 2017, $343 for the year ended December 31, 2016, $217 for the year ended December 31, 2015, $266 for the year ended December 31, 2014 and $1,446 for the year ended December 31, 2013 for the interest expense component associated with uncertain tax positions. Interest expense excluded $119 accrued for the interest benefit component associated with uncertain tax provisions for the year ended December 31, 2012.