Eagle Materials (EXP) 10-K 2013 FY Annual report

Exhibit 12.1

	Fiscal Year Ended March 31,
	2013			2012			2011			2010			2009
Earnings(1):
Earnings before income taxes		84,096			21,912			16,762			39,297			62,183
Add: Fixed charges		15,791			17,769			18,291			19,060			24,714
Add: Amortization of capitalized interest and FIN 48 Interest		945			(367	)		(932	)		3,277			5,358
Add: Cash distributions from equity method investments		28,500			23,250			24,500			29,750			33,000
Subtract: Income from equity method investments		(32,507	)		(28,528	)		(24,233	)		(24,157	)		(32,426	)
Total Earnings		96,825			34,036			34,388			67,227			92,829
Fixed Charges(2):
Interest expense		15,467			17,530			17,995			18,760			24,433
Interest component of rent expense		324			239			296			300			281
Total Fixed Charges		15,791			17,769			18,291			19,060			24,714
Ratio of Earnings to Fixed Charges		6.1x			1.9x			1.9x			3.5x			3.8x

(1) Earnings represent earnings before income taxes and before income from equity method investments plus: (a) fixed charges; and (b) cash distributions from equity method investments.

(2) Fixed charges include: (a) interest expense, whether expensed or capitalized, less interest accrued for uncertain tax positions; and (b) the portion of operating rental expense which management believes is representative of the interest component of rent expense.