Exhibit 12
Trinity Industries, Inc. and Subsidiaries
Computation of Ratio of Earnings To Fixed Charges
Computation of Ratio of Earnings To Fixed Charges
For the Year Ended December 31, | ||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
($ in millions) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Earnings (loss) from continuing operations before provision (benefit) for income taxes | $ | 116.5 | $ | (146.9 | ) | $ | 453.8 | $ | 454.9 | $ | 343.9 | |||||||||
Add: | ||||||||||||||||||||
Fixed Charges | 204.3 | 146.3 | 134.3 | 109.3 | 91.4 | |||||||||||||||
Amortization of capitalized interest | 0.2 | 0.3 | 0.1 | 0.1 | 0.0 | |||||||||||||||
Total earnings (loss) from continuing operations before provision (benefit) for income taxes | $ | 321.0 | $ | (0.3 | ) | $ | 588.2 | $ | 564.3 | $ | 435.3 | |||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 182.1 | $ | 123.2 | $ | 109.4 | $ | 84.5 | $ | 68.7 | ||||||||||
Portion of rental expense representative of interest | 22.2 | 23.1 | 24.9 | 24.8 | 22.7 | |||||||||||||||
204.3 | 146.3 | 134.3 | 109.3 | 91.4 | ||||||||||||||||
Capitalized interest | 0.0 | 0.0 | 0.9 | 0.6 | 0.3 | |||||||||||||||
Total Fixed Charges | $ | 204.3 | $ | 146.3 | $ | 135.2 | $ | 109.9 | $ | 91.7 | ||||||||||
Ratio of Earnings to Fixed Charges | 1.57 | 0.00 | 4.35 | 5.13 | 4.75 | |||||||||||||||
Footnote: | ||
Earnings for the year ended December 31, 2009 included a $325 million goodwill impairment charge. See Note 9 of the Notes to Consolidated Financial Statements for further discussion. | ||
Earnings were inadequate to cover fixed charges for the year ended December 31, 2009. The deficiency for this period was $146.6 million. |