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Exhibit 12
COMMERCIAL METALS COMPANY AND SUBSIDIARIES CONSOLIDATED
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands, except ratios)
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands, except ratios)
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
EARNINGS (LOSS):* | ||||||||||||||||||||
EARNINGS (LOSS) BEFORE INCOME TAXES | (113,064 | ) | $ | (264,368 | ) | $ | 33,925 | $ | 337,311 | $ | 536,056 | |||||||||
INTEREST EXPENSE | 70,806 | 75,508 | 77,562 | 59,488 | 37,257 | |||||||||||||||
INTEREST IMPUTED ON RENT | 15,303 | 16,311 | 22,780 | 21,217 | 12,082 | |||||||||||||||
AMORTIZATION OF CAPITALIZED INTEREST | 2,377 | 1,838 | 899 | 728 | 655 | |||||||||||||||
TOTAL EARNINGS (LOSS) | (24,578 | ) | (170,711 | ) | 135,166 | 418,744 | 586,050 | |||||||||||||
FIXED CHARGES:* | ||||||||||||||||||||
INTEREST EXPENSE | 70,806 | 75,508 | 77,562 | 59,488 | 37,257 | |||||||||||||||
INTEREST CAPITALIZED | 794 | 4,538 | 12,638 | 6,877 | 3,198 | |||||||||||||||
INTEREST IMPUTED ON RENT | 15,303 | 16,311 | 22,780 | 21,217 | 12,082 | |||||||||||||||
TOTAL FIXED CHARGES | 86,903 | 96,357 | 112,980 | 87,582 | 52,537 | |||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | ** | ** | 1.20 | 4.78 | 11.16 |
* | Earnings (loss) and fixed charges include a division classified as discontinued operations. | |
** | Earnings for the year ended August 31, 2011 and 2010 were inadequate to cover fixed charges. The coverage deficiency was $111,481 for 2011 and $267,068 for 2010. |