Eagle Materials (EXP) 10-Q 2017 Q2 Quarterly report

EXHIBIT12.1

		Six Months
		Ended September 30,			Fiscal Year Ended March 31,
		2016			2016			2015			2014			2013
Earnings: (1)
	Earnings before income taxes		156,649			219,252			252,927			181,804			84,096
	Add: Fixed charges		10,535			18,539			16,631			18,171			15,791
	Add: Amortization of capitalized interest and FIN 48 Interest	268				536		(3,311		)		1,117			945
	Add: Cash distributions from equity method investments		21,750			37,250			40,375			37,750			28,500
	Subtract: Income from equity method investments		(20,127	)		(39,083	)		(44,967	)		(37,811	)		(32,507	)
Total Earnings			169,075			236,494			261,655			201,091			96,825
Fixed Charges: (2)
	Interest expense		9,557			16,583			15,590			17,646			15,467
	Interest component of rent expense	978			1,956			1,041			525			324
Total Fixed Charges			10,535			18,539			16,631			18,171			15,791
Ratio of Earnings to Fixed Charges		16.0x			12.8x			15.7.1x			11.1x			6.1x
(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.