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 |
(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. |