EX-12 7 trnexhibit1212312012-disco.htm EXHIBIT 12 TRN Exhibit 12 12.31.2012 - Disc Ops


Exhibit 12
Trinity Industries, Inc. and Subsidiaries
Computation of Ratio of Earnings To Fixed Charges
 
 
For the year ended December 31,
 
2012
 
2011
  
2010
 
2009
 
2008
 
($ in millions)
Earnings:
 
 
 
  
 
 
 
 
 
Earnings (loss) from continuing operations before provision (benefit) for income taxes
$
385.9

 
$
239.0

  
$
106.7

  
$
(152.2
)
 
$
430.3

Add:
 
 
 
  
 
 
 
 
 
Fixed Charges
216.6

 
205.7

  
202.5

  
145.1

 
132.8

Amortization of capitalized interest
0.2

 
0.2

  
0.2

  
0.3

 
0.1

Total earnings (loss) from continuing operations before provision (benefit) for income taxes
$
602.7

 
$
444.9

  
$
309.4

  
$
(6.8
)
 
$
563.2

 
 
 
 
  
 
 
 
 
 
Fixed Charges:
 
 
 
  
 
 
 
 
 
Interest expense
$
194.7

 
$
185.3

  
$
182.1

  
$
123.2

 
$
109.4

Portion of rental expense representative of interest
21.9

 
20.4

  
20.4

  
21.9

 
23.4

 
216.6

 
205.7

  
202.5

  
145.1

 
132.8

Capitalized interest

 

  

  

 
0.9

Total Fixed Charges
$
216.6

 
$
205.7

  
$
202.5

  
$
145.1

 
$
133.7

 
 
 
 
  
 
 
 
 
 
Ratio of Earnings to Fixed Charges
2.78

 
2.16

  
1.53

  

 
4.21

Footnote:
Amounts previously reported have been adjusted to exclude discontinued operations resulting from the expected sale of the Company's remaining ready-mix concrete operations. See Note 2 Acquisitions and Divestitures in the Notes to Consolidated Financial Statements.
Earnings for the year ended December 31, 2009 included a $325 million goodwill impairment charge. Earnings were inadequate to cover fixed charges for the year ended December 31, 2009. The deficiency for this period was $151.9 million.