Exhibit 12
SWIFT TRANSPORTATION COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of earnings to fixed charges on a historical basis for the periods indicated.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Successor | | | | Predecessor | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | January 1, | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | 2007 | | | | |
| | | | | | | | | | | Year Ended | | | | Through | | | Year Ended | |
| | Three Months Ended March 31, | | | | December 31, | | | | May 10, | | | December 31, | |
(Dollars in thousands) | | 2011 | | | 2010 | | | | 2010 | | | 2009 | | | 2008 | | | 2007 | | | | 2007 | | | 2006 | |
| | | | | | | | | | | |
Earnings available to cover fixed charges: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | $ | 3,205 | | | $ | (53,001 | ) | | | $ | (168,845 | ) | | $ | (108,995 | ) | | $ | (135,187 | ) | | $ | (330,504 | ) | | | $ | (34,999 | ) | | $ | 221,274 | |
Fixed charges | | | 45,900 | | | | 90,258 | | | | | 337,453 | | | | 272,725 | | | | 257,147 | | | | 195,276 | | | | | 12,965 | | | | 35,088 | |
Earnings available to cover fixed charges | | $ | 49,105 | | | $ | 37,257 | | | | $ | 168,608 | | | $ | 163,730 | | | $ | 121,960 | | | $ | (135,228 | ) | | | $ | (22,034 | ) | | $ | 256,362 | |
Fixed Charges | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | $ | 37,501 | | | $ | 62,596 | | | | $ | 251,129 | | | $ | 200,512 | | | $ | 222,177 | | | $ | 171,115 | | | | $ | 9,454 | | | $ | 26,870 | |
Derivative interest expense (income) | | | 4,680 | | | | 23,714 | | | | | 70,399 | | | | 55,634 | | | | 18,699 | | | | 13,233 | | | | | (177 | ) | | | (1,134 | ) |
Interest portion of rental expense | | | 3,719 | | | | 3,948 | | | | | 15,925 | | | | 16,579 | | | | 16,271 | | | | 10,928 | | | | | 3,688 | | | | 9,352 | |
Total fixed charges | | $ | 45,900 | | | $ | 90,258 | | | | $ | 337,453 | | | $ | 272,725 | | | $ | 257,147 | | | $ | 195,276 | | | | $ | 12,965 | | | $ | 35,088 | |
Ratio of earnings to fixed charges (a) | | | 1.07 | | | | 0.41 | | | | | 0.50 | | | | 0.60 | | | | 0.47 | | | | — | | | | | — | | | | 7.31 | |
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(a) | | Our earnings were insufficient to cover fixed charges by approximately $53 million for the three months ended March 31, 2010 and by $169 million, $109 million, $135 million, $331 million, and $35 million for the years ended December 31, 2010, 2009, 2008, 2007, and that of our predecessor for the period from January 1, 2007 through May 10, 2007, respectively. |