Exhibit 12.1
Dycom Industries, Inc.
Computation of Ratio of Earnings to Fixed Charges
Six Months Ended | Fiscal Year Ended | |||||||||||||||||||||||
January 26, 2013 | July 28, 2012 | July 30, 2011 | July 31, 2010 | July 25, 2009 | July 26, 2008 | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||||||||
Income (loss) from continuing operations before cumulative effect of changes in accounting principles | $ | 13,323 | $ | 39,378 | $ | 16,107 | $ | 5,849 | $ | (53,094 | ) | $ | 24,404 | |||||||||||
Income tax expense (benefit) | 9,022 | 25,183 | 12,377 | 4,881 | (1,405 | ) | 13,180 | |||||||||||||||||
Fixed charges included in the determination of net income | 14,432 | 24,001 | 22,185 | 20,292 | 21,921 | 20,520 | ||||||||||||||||||
Total earnings, as defined | $ | 36,777 | $ | 88,562 | $ | 50,669 | $ | 31,022 | $ | (32,578 | ) | $ | 58,104 | |||||||||||
Fixed charges, as defined: | ||||||||||||||||||||||||
Interest charges | $ | 9,946 | $ | 16,745 | $ | 16,017 | $ | 14,272 | $ | 14,743 | $ | 13,096 | ||||||||||||
Rental interest factor | 4,539 | 7,256 | 6,168 | 6,020 | 7,178 | 7,424 | ||||||||||||||||||
Total fixed charges, as defined | $ | 14,485 | $ | 24,001 | $ | 22,185 | $ | 20,292 | $ | 21,921 | $ | 20,520 | ||||||||||||
Ratio of earnings to fixed charges | 2.5x | 3.7x | 2.3x | 1.5x | (*) | 2.8x | ||||||||||||||||||
*The ratio of earnings to fixed charges was less than one-to-one for fiscal 2009 and earnings were insufficient to cover fixed charges by $76.4 million. |