EXHIBIT 12.1
COMMERCIAL METALS COMPANY AND SUBSIDIARIES CONSOLIDATED
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands, except ratios)
Six Months Ended February 28, 2017 | Six Months Ended February 29, 2016 | Fiscal Years Ended August 31, | ||||||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||
Earnings (loss) from continuing operations before taxes | 49,456 | 50,318 | $ | 85,190 | $ | 145,975 | $ | 164,957 | $ | 109,429 | $ | 126,010 | ||||||||||||||||
Less: Net earnings (loss) attributable to noncontrolling interests | — | — | — | — | 1 | 4 | 6 | |||||||||||||||||||||
Capitalized interest amortization | 1,031 | 1,015 | 2,043 | 1,191 | 1,371 | 2,305 | 2,341 | |||||||||||||||||||||
Fixed charges | 35,722 | 42,257 | 78,932 | 93,024 | 90,242 | 80,779 | 81,034 | |||||||||||||||||||||
Less: Capitalized interest | (3,720 | ) | (969 | ) | (3,581 | ) | (810 | ) | (563 | ) | (1,004 | ) | (1,339 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total | 82,489 | 92,621 | $ | 162,584 | $ | 239,380 | $ | 256,006 | $ | 191,505 | $ | 208,040 | ||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense | 29,460 | 35,898 | $ | 65,812 | $ | 78,570 | $ | 77,600 | $ | 69,443 | $ | 70,009 | ||||||||||||||||
Portion of rental expense representative of interest factor | 6,263 | 6,360 | 13,120 | 14,454 | 12,642 | 11,336 | 11,025 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges | 35,723 | 42,258 | $ | 78,932 | $ | 93,024 | $ | 90,242 | $ | 80,779 | $ | 81,034 | ||||||||||||||||
Ratio of earnings to fixed charges | 2.31 | 2.19 | 2.06 | 2.57 | 2.84 | 2.37 | 2.57 |