Exhibit 12.1
Trinity Industries, Inc. and Subsidiaries
Computation of Ratio of Earnings To Fixed Charges
| For the Six Months Ended June 30, | For the Years Ended December 31, | |||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||
| ($ in millions) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Earnings (loss) from continuing operations before provision (benefit) for income taxes | $ | 603.0 | $ | 590.5 | $ | 385.9 | $ | 239.0 | $ | 106.7 | $ | (152.2 | ) | |||||||||||
Add: | ||||||||||||||||||||||||
Fixed Charges | 106.8 | 212.3 | 216.6 | 205.7 | 202.5 | 145.1 | ||||||||||||||||||
Amortization of capitalized interest | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | ||||||||||||||||||
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Total earnings (loss) from continuing operations before provision (benefit) for income taxes | $ | 709.9 | $ | 803.0 | $ | 602.7 | $ | 444.9 | $ | 309.4 | $ | (6.8 | ) | |||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 93.2 | $ | 187.3 | $ | 194.7 | $ | 185.3 | $ | 182.1 | $ | 123.2 | ||||||||||||
Portion of rental expense representative of interest | 13.6 | 25.0 | 21.9 | 20.4 | 20.4 | 21.9 | ||||||||||||||||||
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| 106.8 | 212.3 | 216.6 | 205.7 | 202.5 | 145.1 | |||||||||||||||||||
Capitalized interest | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||||||
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Total Fixed Charges | $ | 106.8 | $ | 212.3 | $ | 216.6 | $ | 205.7 | $ | 202.5 | $ | 145.1 | ||||||||||||
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Ratio of Earnings to Fixed Charges | 6.65 | 3.78 | 2.78 | 2.16 | 1.53 | — | ||||||||||||||||||
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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 in our Annual Report on Form 10-K for the year ended December 31, 2103 for further discussion. Earnings were inadequate to cover fixed charges for the year ended December 31, 2009. The deficiency for this period was $151.9 million.