Exhibit 12.1
Vulcan Materials Company and Subsidiary Companies
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| For the years ended December 31 | ||||||||||||||||||||
dollars in thousands | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Fixed charges | ||||||||||||||||||||
Interest expense before capitalization credits | $ | 236,875 | $ | 197,493 | $ | 209,865 | $ | 216,976 | $ | 182,456 | ||||||||||
Amortization of financing costs | 8,583 | 6,184 | 5,918 | 6,327 | 2,784 | |||||||||||||||
One-third of rental expense | 36,103 | 29,959 | 26,186 | 24,992 | 24,134 | |||||||||||||||
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Total fixed charges | $ | 281,561 | $ | 233,636 | $ | 241,969 | $ | 248,295 | $ | 209,374 | ||||||||||
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Earnings before income taxes as adjusted | ||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 298,838 | $ | (3,703 | ) | $ | (120,421 | ) | $ | (153,738 | ) | $ | (192,206 | ) | ||||||
Minority interest in earnings (losses) of a consolidated subsidiary | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Fixed charges | 281,561 | 233,636 | 241,969 | 248,295 | 209,374 | |||||||||||||||
Capitalized interest credits | (2,092 | ) | (1,089 | ) | (2,716 | ) | (2,675 | ) | (3,637 | ) | ||||||||||
Amortization of capitalized interest | 2,742 | 3,408 | 3,453 | 3,412 | 3,422 | |||||||||||||||
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Earnings before income taxes, as adjusted | $ | 581,049 | $ | 232,252 | $ | 122,285 | $ | 95,294 | $ | 16,953 | ||||||||||
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Ratio of earnings to fixed charges | 2.1 | 1.0 | 0.5 | 0.4 | 0.1 | |||||||||||||||
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