Texas Industries 10-Q 2005 Q1 Quarterly report

EXHIBIT 12.1

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

TEXAS INDUSTRIES, INC. AND SUBSIBIARIES

	Three Months ended August 31,					Year Ended May 31,
In thousands except ratios	2004		2003			2004		2003			2002		2001			2000
Earnings
Income (loss) from continuing operations before income taxes and changes in accounting principles	$	53,806	$	(27,061	)	$	51,545	$	(40,391	)	$	72,550	$	37,571		$	103,974
Fixed charges		19,094		21,965			82,287		53,730			62,367		73,247			63,727
Amortization of capitalized interest		702		702			2,808		2,808			2,808		1,708			1,424
Less: Interest capitalized		—		—			—		—			—		(15,601	)		(12,705	)
Adjusted earnings	$	73,602	$	(4,394	)	$	136,640	$	16,147		$	137,725	$	96,925		$	156,420
Fixed charges
Interest expense	$	16,694	$	18,584		$	70,608	$	42,080		$	49,334	$	45,376		$	41,220
Interest capitalized		—		—			—		—			—		15,601			12,705
Net amortization of debt discount, premium and issuance expense		367		1,207			3,090		3,802			4,346		2,685			2,523
Interest portion of rent expense		2,033		2,174			8,589		7,848			8,687		9,585			7,279
Total fixed charges	$	19,094	$	21,965		$	82,287	$	53,730		$	62,367	$	73,247		$	63,727
Ratio of earnings to fixed charges		3.85		(.20	)		1.66		.30			2.21		1.32			2.45
Deficiency of earnings to cover fixed charges	$	—	$	26,359		$	—	$	37,583		$	—	$	—		$	—

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