NUCOR CORP - FORM 10-Q - EX-12.1 - COMPUTATIONS OF RATIO OF EARNINGS TO FIXED CHARGES - November 10, 2009

Attached files

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10-Q - FORM 10-Q - NUCOR CORPd10q.htm
EX-32 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO SECTION 906 - NUCOR CORPdex32.htm
EX-31.1 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO SECTION 302 - NUCOR CORPdex311.htm
EX-31 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO SECTION 302 - NUCOR CORPdex31.htm
EX-32.1 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO SECTION 906 - NUCOR CORPdex321.htm

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

    Year-ended December 31,     Nine Months Ended
October 3, 2009		  
    2004     2005     2006     2007     2008    
    (In thousands, except ratios)        

Earnings

            

Earnings/(loss) before income taxes and noncontrolling interests

   $ 1,806,731      $ 2,137,733      $ 2,911,556      $ 2,546,816      $ 3,104,391      $ (503,988 ) 

Plus/(Less): losses/(earnings) from equity investments

     (4,070 )      (476 )      17,690        24,618        36,920        69,431   

Plus: fixed charges (includes interest expense and amortization of bond issuance costs and settled swaps and estimated interest on rent expense)

     30,645        36,571        40,351        55,402        146,360        127,571   

Plus: amortization of capitalized interest

     108        216        216        216        300        576   

Plus: distributed income of equity investees

     —          —          3,172        8,072        20,117        7,373   

Less: interest capitalized

     (1,310 )      —          —          (3,700 )      (10,020 )      (13,740 ) 

Less: pre-tax earnings in noncontrolling interests in subsidiaries that have not incurred fixed charges

     (80,840 )      (110,650 )      (219,121 )      (293,604 )      (314,277 )      (29,797 ) 
                                               

Total earnings/(loss) before fixed charges

   $ 1,751,264      $ 2,063,394      $ 2,753,864      $ 2,337,820      $ 2,983,791      $ (342,574 ) 
                                               

Fixed charges

            

Interest expense and amortization of bond issuance and settled swaps

     30,645        36,571        40,351        55,052        144,845        126,068   

Estimated interest on rent expense

     —          —          —          350        1,515        1,503   
                                               

Total Fixed Charges

     30,645        36,571        40,351        55,402        146,360        127,571   
                                               

Ratio of earnings to fixed charges

     57.15        56.42        68.25        42.20        20.39        *   

 

* Earnings for the nine months ended October 3, 2009 were inadequate to cover fixed charges. The coverage deficiency was $470,145.

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