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 1995 1994 1993 1992 1991 Fixed charges: Interest expense before capitalization credits..$ 11,396 $ 10,699 $ 10,187 $ 10,441 $ 11,336 Amortization of financing costs................... 109 114 115 116 75 One-third of rental expense....................... 9,532 10,393 7,375 7,190 4,815 Total fixed charges........................$ 21,037 $ 21,206 $ 17,677 $ 17,747 $ 16,226 Net earnings......................................$ 166,240 $ 97,976 $ 88,229 90,980 $ 52,580 Provisions for income taxes......................... 92,181 47,930 36,993 39,746 20,867 Fixed charges....................................... 21,037 21,206 17,677 17,747 16,226 Capitalized interest credits........................ (297) (878) (1,016) (673) (131) Amortization of capitalized interest................ 1,031 997 882 792 840 Earnings before income taxes as adjusted...... $ 280,192 $ 167,231 $ 142,765 $ 148,592 $ 90,382 Ratio of earnings to fixed charges.................. 13.3 7.9 8.1 8.4 5.6