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 1996 1995 1994 1993 1992 Fixed charges: Interest expense before capitalization credits... $ 9,263 $ 11,396 $ 10,699 $ 10,187 $ 10,441 Amortization of financing costs.................. 164 109 114 115 116 One-third of rental expense...................... 9,663 9,532 10,393 7,375 7,190 Total fixed charges........................... $ 19,090 $ 21,037 $ 21,206 $ 17,677 $ 17,747 Net earnings....................................... 188,595 166,240 97,976 88,229 90,980 Provisions for income taxes........................ 96,985 92,181 47,930 36,993 39,746 Fixed charges...................................... 19,090 21,037 21,206 17,677 17,747 Capitalized interest credits....................... (627) (297) (878) (1,016) (673) Amortization of capitalized interest............... 674 1,031 997 882 792 Earnings before income taxes as adjusted......... $304,717 $280,192 $167,231 $142,765 $148,592 Ratio of earnings to fixed charges................. 16.0 13.3 7.9 8.1 8.4