Black Construction Investments S-4 Registration of securities issued in business combination transactions

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Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)

		Year Ended December 31,
		2010		2009		2008			2007		2006
EARNINGS:
	Net income (loss)	$	103,500	$	137,061	$	(75,140	)	$	97,114	$	41,536
	Provisions for income taxes		55,968		68,079		55,290			57,281		28,153
	Interest expense		10,564		7,501		4,163			1,947		3,771
	Amortization of deferred financing costs		1,745		410		316			253		185
	Interest portion of operating leases		3,480		4,356		3,464			2,472		2,373
	Earnings for ratio calculation	$	175,257	$	217,407	$	(11,907	)	$	159,067	$	76,018
FIXED CHARGES:
	Interest expense	$	10,564	$	7,501	$	4,163		$	1,947	$	3,771
	Amortization of deferred financing costs		1,745		410		316			253		185
	Interest portion of operating leases		3,480		4,356		3,464			2,472		2,373
	Total fixed charges	$	15,789	$	12,267	$	7,943		$	4,672	$	6,329
RATIO OF EARNINGS TO FIXED CHARGES			11.10		17.72		(1.50	)		34.04		12.01
DOLLAR AMOUNT OF COVERAGE DEFICIENCY						$	3,963

For purposes of determining the ratio of earnings to fixed charges, earnings are defined as earnings (loss) from continuing operations before income taxes, plus fixed charges. Fixed charges consist of interest expense on all indebtedness, amortization of debt discount, amortization of deferred financing costs and an interest factor attributable to operating leases.

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Exhibit 12.1