EXHIBIT 12 VULCAN MATERIALS COMPANY AND SUBSIDIARY COMPANIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Years Ended December 31 Amounts in Thousands 1993 1992 1991 1990 1989 Fixed charges: Interest expense before capitalization credits.................... $10,187 $ 10,441 $11,336 $ 9,349 $ 6,873 Amortization of financing costs............. 115 116 75 44 42 One-third of rental expense................. 7,375 8,711 4,815 5,678 3,979 Total fixed charges....................... $ 17,677 $ 19,268 $16,226 $ 15,071 $ 10,894 Net earnings from continuing operations.................................. $ 88,229 $ 90,980 $52,580 $120,278 $133,420 Provision for income taxes.................... 36,993 39,746 20,867 58,951 67,943 Fixed charges................................. 17,677 19,268 16,226 15,071 10,894 Capitalized interest credits.................. (1,016) (673) (131) (1,591) (756) Amortization of capitalized interest.......... 882 792 840 705 603 Earnings from continuing operations before income taxes as adjusted............. $142,765 $150,113 $90,382 $193,414 $212,104 Ratio of earnings to fixed charges............ 8.1 7.8 5.6 12.8 19.5