Exhibit 12.1
URS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
| Year Ended | ||||||||||||||||||||
| (In millions, except for ratio) | December 28, 2012 | December 30, 2011(1) | December 31, 2010 | January 1, 2010 | January 2, 2009 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Earnings (losses) before income taxes | $ | 500.5 | $ | (374.0 | ) | $ | 415.5 | $ | 432.0 | $ | 378.0 | |||||||||
Less: | ||||||||||||||||||||
Equity in earnings of affiliates | (107.6 | ) | (132.2 | ) | (70.3 | ) | (100.9 | ) | (106.3 | ) | ||||||||||
Add: | ||||||||||||||||||||
Interest component of rent expense(2) | 70.0 | 62.8 | 64.2 | 66.5 | 71.5 | |||||||||||||||
Interest expense | 70.7 | 22.1 | 30.6 | 48.4 | 90.7 | |||||||||||||||
Amortization of debt discount | 2.6 | 5.8 | 9.2 | 7.8 | 8.5 | |||||||||||||||
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Earnings (losses), as adjusted | $ | 536.2 | $ | (415.5 | ) | $ | 449.2 | $ | 453.8 | $ | 442.4 | |||||||||
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Fixed charges: | ||||||||||||||||||||
Interest expense | 70.7 | $ | 22.1 | $ | 30.6 | $ | 48.4 | $ | 90.7 | |||||||||||
Interest component of rent expense(2) | 70.0 | 62.8 | 64.2 | 66.5 | 71.5 | |||||||||||||||
Amortization of debt discount | 2.6 | 5.8 | 9.2 | 7.8 | 8.5 | |||||||||||||||
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Total fixed charges | $ | 143.3 | $ | 90.7 | $ | 104.0 | $ | 122.7 | $ | 170.7 | ||||||||||
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Consolidated ratio of earnings to fixed charges | 3.7 | N/A | 4.3 | 3.7 | 2.6 | |||||||||||||||
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| (1) | Earnings for the year ended December 30, 2011 were inadequate to cover fixed charges. The coverage deficiency was $506.2 million. |
| (2) | Interest component of rent expense is estimated to equal one-third of such expense, which is considered a reasonable approximation of the interest factor. |