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) 1994 1993 1992 1991 1990 Fixed charges: Interest expense before capitalization credits $ 10,699 $ 10,187 $ 10,441 $ 11,336 $ 9,349 Amortization of financing costs 114 115 116 75 44 One-third of rental expense 10,393 7,375 7,190 4,815 5,678 Total fixed charges $ 21,206 $ 17,677 $ 17,747 $ 16,226 $ 15,071 Net earnings from continuing operations $ 97,976 $ 88,229 $ 90,980 $ 52,580 $120,278 Provision for income taxes 47,930 36,993 39,746 20,867 58,951 Fixed charges 21,206 17,677 17,747 16,226 15,071 Capitalized interest credits (878) (1,016) (673) (131) (1,591) Amortization of capitalized interest 997 882 792 840 705 Earnings from continuing operations before income taxes as adjusted $167,231 $142,765 $148,592 $ 90,382 $193,414 Ratio of earnings to fixed charges 7.9 8.1 8.4 5.6 12.8