Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - COMMERCIAL METALS Co | d535844d8k.htm |
| EX-1.1 - EX-1.1 - COMMERCIAL METALS Co | d535844dex11.htm |
| EX-99.1 - EX-99.1 - COMMERCIAL METALS Co | d535844dex991.htm |
| EX-99.2 - EX-99.2 - COMMERCIAL METALS Co | d535844dex992.htm |
Exhibit 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands, except ratios)
| Fiscal Years Ended August 31, | Six Months Ended February 28, 2013 |
Six Months Ended February 29, 2012 |
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| 2008 | 2009 | 2010 | 2011 | 2012 | ||||||||||||||||||||||||
| Earnings (loss) from continuing operations before taxes |
$ | 384,563 | $ | 48,561 | $ | (161,389 | ) | $ | 38,606 | $ | 162,793 | $ | 81,306 | $ | 72,562 | |||||||||||||
| Add (subtract): |
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| Net earnings attributable to noncontrolling interests |
(538 | ) | 550 | (236 | ) | (213 | ) | (6 | ) | (2 | ) | (2 | ) | |||||||||||||||
| Capitalized interest amortization |
728 | 899 | 2,012 | 2,377 | 2,341 | 1,151 | 1,162 | |||||||||||||||||||||
| Fixed charges |
84,366 | 110,917 | 93,948 | 85,897 | 85,473 | 41,718 | 40,594 | |||||||||||||||||||||
| Less: Capitalized interest |
(6,877 | ) | (12,010 | ) | (4,359 | ) | (794 | ) | (1,339 | ) | (768 | ) | (507 | ) | ||||||||||||||
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| Total |
$ | 462,242 | $ | 148,917 | $ | (70,024 | ) | $ | 125,873 | $ | 249,262 | $ | 123,405 | $ | 113,809 | |||||||||||||
| Fixed charges: |
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| Interest expense |
$ | 63,334 | $ | 88,974 | $ | 78,540 | $ | 70,615 | $ | 70,835 | $ | 34,282 | 32,847 | |||||||||||||||
| Portion of rental expense representative of interest factor |
21,032 | 21,943 | 15,408 | 15,282 | 14,638 | 7,436 | 7,747 | |||||||||||||||||||||
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| Total fixed charges |
$ | 84,366 | $ | 110,917 | $ | 93,948 | $ | 85,897 | $ | 85,473 | $ | 41,718 | $ | 40,594 | ||||||||||||||
| Ratio of earnings to fixed charges |
5.48x | 1.34x | * | 1.47x | 2.92x | 2.96x | 2.80x | |||||||||||||||||||||
| * | Earnings for the year ended August 31, 2010 were inadequate to cover fixed charges due to asset impairment charges and losses from discontinued operations. The coverage deficiency was approximately $164 million for the year ended August 31, 2010. |