Exhibit 12

The Greenbrier Companies
Computation of Ratio of Earnings to Fixed Charges
(in thousands)

	Year ended August 31,											Nine Months
	2001		2002			2003		2004		2005		5/31/2005		5/31/2006
Earnings (loss) before income tax, minority interest and equity in unconsolidated subsidiaries	$	8,523	$	(47,230	)	$	10,758	$	31,194	$	50,000		32,391	$	49,117
Interest expense		22,264		19,055			14,489		11,553		14,000		8,909		19,310
Estimated interest portion of rent expense		7,181		6,287			6,136		5,388		5,591		4,154		4,526
	$	37,968	$	(21,888	)	$	31,383	$	48,135	$	69,591	$	45,454	$	72,953
Fixed charges	$	29,445	$	25,342		$	20,625	$	16,941	$	19,591	$	13,063	$	23,836
Ratio of earnings to fixed charges		1.29		(0.86	)		1.52		2.84		3.55		3.48		3.06