Nucor (NUE) S-4/A Registration of securities issued in business combination transactions (amended)

Exhibit 12.1

Ratio of Earnings to Fixed Charges

Nucor Corporation

	Years ended December 31,															Nine months ended September 28, 2002
	1997			1998			1999			2000			2001
	(In thousands, except ratios)
Earnings (1):
Earnings before federal income taxes	$	460,182		$	415,308		$	379,189		$	478,308		$	173,861		$	181,989
Plus: state income taxes (2)		21,056			23,748			13,446			16,910			5,508			(1,827	)
Plus: minority interests (3)		90,517			91,641			85,783			151,461			103,069			66,224
Plus: losses from equity investments		—			—			—			235			740			2,573
Plus: fixed charges (interest expense)		9,282			10,863			20,516			22,449			22,002			14,712
Less: minority interests in subsidiaries that have not incurred fixed charges		(90,517	)		(91,641	)		(85,783	)		(151,461	)		(103,069	)		(66,224	)
	$	490,520		$	449,919		$	413,151		$	517,902		$	202,111		$	197,447
Fixed charges (4):
Interest expense		9,282			10,863			20,516			22,449			22,002			14,712
Ratio of earnings to fixed charges		52.85x			41.42x			20.14x			23.07x			9.19x			13.42x

(1) Earnings consist of earnings before federal income taxes, state income taxes, minority interests, losses from equity investments and fixed charges, less minority interests in pre-tax income of subsidiaries that have not incurred fixed charges.

(2) For purposes of this table, state income taxes include certain state franchise taxes.

(3) For purposes of this table, minority interests reflect the amounts broken out as a separate line item in the Income Statement Data portion of the Selected Historical Consolidated Financial Data set forth in the prospectus.

(4) Fixed charges consist of interest expense.