Exhibit 12.1
Reliance Steel & Aluminum Co.
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
Nine | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
Year Ended December 31 | Sept. 30 | |||||||||||||||||||||||
Description | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | ||||||||||||||||||
Ratio of Earnings to Fixed Charges | 3.03 | 2.62 | 2.54 | 8.06 | 10.35 | 10.34 | ||||||||||||||||||
Earnings Calculation: | ||||||||||||||||||||||||
Additions: | ||||||||||||||||||||||||
Pretax Income (Before Minority Interest and Equity Investees) | 59,873 | 49,581 | 53,918 | 279,150 | 341,964 | 451,622 | ||||||||||||||||||
Fixed charges | 32,946 | 30,619 | 35,623 | 38,234 | 35,643 | 48,342 | ||||||||||||||||||
Amortization of Capitalized Interest | — | — | — | — | — | — | ||||||||||||||||||
Distributed Income of Equity Investees | 6,924 | — | — | — | — | — | ||||||||||||||||||
Share of Pre-tax Losses of Equity Investees included in Fixed Charges | — | — | — | — | — | — | ||||||||||||||||||
Subtractions: | ||||||||||||||||||||||||
Interest Capitalized | — | — | — | — | — | — | ||||||||||||||||||
Preference Security Dividend Requirements | — | — | — | — | — | — | ||||||||||||||||||
Minority Interest included in Pretax Income that have not incurred Fixed Charges | — | 124 | (938 | ) | 9,182 | 8,752 | 227 | |||||||||||||||||
Total Earnings | 99,743 | 80,076 | 90,479 | 308,202 | 368,855 | 499,737 | ||||||||||||||||||
Fixed Charges Calculation: | ||||||||||||||||||||||||
Interest Expensed and Capitalized | 26,738 | 22,605 | 26,745 | 28,690 | 25,222 | 41,996 | ||||||||||||||||||
Amortized Premiums, Discounts and Capitalized Expenses Related to Indebtness | 460 | 575 | 832 | 1,045 | 1,718 | (1,005 | ) | |||||||||||||||||
Estimated Interest included in Rental Expense | 5,748 | 7,439 | 8,046 | 8,499 | 8,703 | 7,351 | ||||||||||||||||||
Preference Security Dividend Requirements | — | — | — | — | — | — | ||||||||||||||||||
Total Fixed Charges | 32,946 | 30,619 | 35,623 | 38,234 | 35,643 | 48,342 |