Exhibit 12
Nucor Corporation
2017 Form10-Q
Computation of Ratio of Earnings to Fixed Charges
Year-ended December 31, | Nine Months Ended September 30, 2017 | Nine Months Ended October 1, 2016 | ||||||||||||||||||||||||||
2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||||||||||
Earnings | (In thousands, except ratios) | |||||||||||||||||||||||||||
Earnings before income taxes and noncontrolling interests | $ | 697,004 | $ | 808,568 | $ | 1,147,288 | $ | 241,866 | $ | 1,298,659 | $ | 1,427,716 | $ | 1,043,619 | ||||||||||||||
Plus: (earnings)/losses from equity investments | 13,323 | (9,297 | ) | (13,505 | ) | (5,329 | ) | (38,757 | ) | (29,801 | ) | (30,232 | ) | |||||||||||||||
Plus: fixed charges (includes interest expense and amortization of bond issuance costs and settled swaps and estimated interest on rent expense) | 179,169 | 164,128 | 178,240 | 178,941 | 186,437 | 143,911 | 140,668 | |||||||||||||||||||||
Plus: amortization of capitalized interest | 2,550 | 3,064 | 4,166 | 4,062 | 3,715 | 3,153 | 2,906 | |||||||||||||||||||||
Plus: distributed income of equity investees | 9,946 | 8,708 | 53,738 | 15,132 | 40,602 | 48,037 | 38,474 | |||||||||||||||||||||
Less: interest capitalized | (4,715 | ) | (10,913 | ) | (2,946 | ) | (311 | ) | (3,940 | ) | (970 | ) | (2,450 | ) | ||||||||||||||
Less:pre-tax earnings in noncontrolling interests in subsidiaries that have not incurred fixed charges | (83,207 | ) | (94,330 | ) | (99,227 | ) | (112,306 | ) | (104,145 | ) | (50,680 | ) | (88,599 | ) | ||||||||||||||
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Total earnings before fixed charges | $ | 814,070 | $ | 869,928 | $ | 1,267,754 | $ | 322,055 | $ | 1,382,571 | $ | 1,541,366 | $ | 1,104,386 | ||||||||||||||
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Fixed charges | ||||||||||||||||||||||||||||
Interest cost and amortization of bond issuance and settled swaps | $ | 178,218 | $ | 162,899 | $ | 177,088 | $ | 177,855 | $ | 185,119 | $ | 142,456 | $ | 139,820 | ||||||||||||||
Estimated interest on rent expense | 951 | 1,229 | 1,152 | 1,086 | 1,318 | 1,455 | 848 | |||||||||||||||||||||
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Total fixed charges | $ | 179,169 | $ | 164,128 | $ | 178,240 | $ | 178,941 | $ | 186,437 | $ | 143,911 | $ | 140,668 | ||||||||||||||
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Ratio of earnings to fixed charges | 4.54 | 5.30 | 7.11 | 1.80 | 7.42 | 10.71 | 7.85 |