EX-12 19 d33283exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

EXHIBIT 12
Trinity Industries, Inc. and Subsidiaries
Computation of Ratio of Earnings To Fixed Charges
                                         
                                    Nine Months  
    For the Year Ended December 31,     December 31,  
    2005     2004     2003     2002     2001  
Earnings:
                                        
Earnings (loss) before provision for income taxes
   $ 143.6     $ (15.1 )   $ (14.3 )   $ (24.4 )   $ (40.5 )
Add: Total fixed charges
     65.5       60.4       45.7       46.2       26.8  
 
                              
Total earnings (loss) before provision for income taxes
   $ 209.1     $ 45.3     $ 31.4     $ 21.8     $ (13.7 )
 
                              
 
                                        
Fixed Charges:
                                        
Interest expense
   $ 42.2     $ 42.8     $ 34.9     $ 36.3     $ 21.7  
Portion of rental expense representative of interest
     23.3       17.6       10.8       9.9       5.1  
Capitalized interest
     0.7       —       —       —       —  
 
                              
Total Fixed Charges
   $ 66.2     $ 60.4     $ 45.7     $ 46.2     $ 26.8  
 
                              
Ratio of Earnings to Fixed Charges
     3.17       0.75       0.69       0.47       (0.51 )
 
                              
Footnote:
 
(a)   Earnings were inadequate to cover fixed charges for the year ended December 31, 2004, 2003, and 2002, and the nine months ended December 31, 2001. The deficiencies for those periods were $15.1 million, $14.3 million $24.4 million, and $40.5 million, respectively.