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 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Fixed charges | ||||||||||||||||||||
Interest expense before capitalization credits | $ | 300,699 | $ | 141,543 | $ | 219,915 | $ | 236,875 | $ | 197,493 | ||||||||||
Amortization of financing costs | 0 | 0 | 3,602 | 8,583 | 6,184 | |||||||||||||||
One-third of rental expense | 39,363 | 41,686 | 39,552 | 36,103 | 29,959 | |||||||||||||||
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Total fixed charges | $ | 340,062 | $ | 183,229 | $ | 263,069 | $ | 281,561 | $ | 233,636 | ||||||||||
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Earnings before income taxes as adjusted | ||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 361,316 | $ | 547,257 | $ | 327,857 | $ | 298,838 | $ | (3,703 | ) | |||||||||
Minority interest in earnings (losses) of a consolidated subsidiary | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Fixed charges | 340,062 | 183,229 | 263,069 | 281,561 | 233,636 | |||||||||||||||
Capitalized interest credits | (5,177 | ) | (7,468 | ) | (2,930 | ) | (2,092 | ) | (1,089 | ) | ||||||||||
Amortization of capitalized interest | 2,505 | 2,653 | 2,518 | 2,742 | 3,408 | |||||||||||||||
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Earnings before income taxes, as adjusted | $ | 698,706 | $ | 725,671 | $ | 590,514 | $ | 581,049 | $ | 232,252 | ||||||||||
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Ratio of earnings to fixed charges | 2.1 | 4.0 | 2.2 | 2.1 | 1.0 | |||||||||||||||
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