Exhibit 12.1
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
TEXAS INDUSTRIES, INC. AND SUBSIDIARIES
Three Months ended August 31, | Year Ended May 31, | |||||||||||||||||||||||||||
In thousands except ratios | 2010 | 2009 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||||
Earnings | ||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes and changes in accounting principles | $ | (38,560 | ) | $ | 3,259 | $ | (61,991 | ) | $ | (30,421 | ) | $ | 127,359 | $ | 156,563 | $ | (8,814 | ) | ||||||||||
Fixed charges | 15,635 | 14,715 | 57,686 | 54,182 | 35,012 | 32,515 | 38,929 | |||||||||||||||||||||
Amortization of capitalized interest | 579 | 579 | 2,314 | 2,314 | 1,201 | 1,100 | 1,100 | |||||||||||||||||||||
Less: Interest capitalized | — | — | — | (14,394 | ) | (26,462 | ) | (12,855 | ) | (1,526 | ) | |||||||||||||||||
Adjusted earnings (loss) | $ | (22,346 | ) | $ | 18,553 | $ | (1,991 | ) | $ | 11,681 | $ | 137,110 | $ | 177,323 | $ | 29,689 | ||||||||||||
Fixed charges | ||||||||||||||||||||||||||||
Interest expense | $ | 12,866 | $ | 11,602 | $ | 45,434 | $ | 28,418 | $ | 1,254 | $ | 12,719 | $ | 29,703 | ||||||||||||||
Interest capitalized | — | — | — | 14,394 | 26,462 | 12,855 | 1,526 | |||||||||||||||||||||
Net amortization of debt discount, premium and issuance expense | 1,545 | 1,642 | 6,806 | 4,868 | 1,251 | 1,355 | 1,452 | |||||||||||||||||||||
Interest portion of rent expense | 1,224 | 1,471 | 5,446 | 6,502 | 6,045 | 5,586 | 6,248 | |||||||||||||||||||||
Total fixed charges | $ | 15,635 | $ | 14,715 | $ | 57,686 | $ | 54,182 | $ | 35,012 | $ | 32,515 | $ | 38,929 | ||||||||||||||
Ratio of earnings to fixed charges | — | 1.26 | — | .22 | 3.92 | 5.45 | .76 | |||||||||||||||||||||
Deficiency of earnings to cover fixed charges | $ | 37,981 | $ | — | $ | 59,677 | $ | 42,501 | $ | — | $ | — | $ | 9,240 | ||||||||||||||