EX-12 22 d261475dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

Trinity Industries, Inc. and Subsidiaries

Computation of Ratio of Earnings To Fixed Charges

 

     For the Year Ended December 31,  
     2011      2010      2009     2008      2007  
     ($ in millions)  

Earnings:

             

Earnings (loss) from continuing operations before provision (benefit) for income taxes

   $ 237.5       $ 116.3       $ (147.1   $ 453.8       $ 454.9   

Add:

             

Fixed Charges

     206.8         204.3         146.3        134.3         109.3   

Amortization of capitalized interest

     0.2         0.2         0.3        0.1         0.1   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

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

   $ 444.5       $ 320.8       $ (0.5   $ 588.2       $ 564.3   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Fixed Charges:

             

Interest expense

   $ 185.3       $ 182.1       $ 123.2      $ 109.4       $ 84.5   

Portion of rental expense representative of interest

     21.5         22.2         23.1        24.9         24.8   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 
     206.8         204.3         146.3        134.3         109.3   

Capitalized interest

     0.0         0.0         0.0        0.9         0.6   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Total Fixed Charges

   $ 206.8       $ 204.3       $ 146.3      $ 135.2       $ 109.9   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Ratio of Earnings to Fixed Charges

     2.15         1.57         0.00        4.35         5.13   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Footnote:

Earnings for the year ended December 31, 2009 included a $325 million goodwill impairment charge. See Note 1 of the Notes to Consolidated Financial Statements under the section titled Goodwill and Intangible Assets for further discussion. Earnings were inadequate to cover fixed charges for the year ended December 31, 2009. The deficiency for this period was $146.8 million.