EX-12.1
Published on
Exhibit 12.1
Reliance Steel & Aluminum Co.
Computation of Ratio of Earnings to Fixed Charges
(In millions of dollars, except ratios)
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Year Ended December 31, |
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Description |
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2008 |
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2009 |
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2010 |
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2011 |
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2012 |
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Ratio of Earnings to Fixed Charges |
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8.13 |
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3.00 |
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4.30 |
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6.86 |
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8.08 |
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Earnings Calculation: |
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Additions: |
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Pretax Income (Before Minority Interest and Equity Investees) |
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$766.0 |
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$194.1 |
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$295.8 |
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$509.4 |
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$607.2 |
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Fixed charges |
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107.3 |
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97.0 |
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88.8 |
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86.7 |
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85.5 |
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Distributed Income of Equity Investees |
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— |
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1.1 |
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0.3 |
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3.9 |
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2.9 |
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Subtractions: |
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Minority Interest included in Pretax Income that have not incurred Fixed Charges |
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0.9 |
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1.0 |
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3.5 |
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5.4 |
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4.8 |
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Total Earnings |
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$872.4 |
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$291.2 |
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$381.4 |
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$594.6 |
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$690.8 |
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Fixed Charges Calculation: |
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Interest Expensed |
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$82.6 |
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$67.5 |
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$61.2 |
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$59.8 |
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$58.4 |
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Amortized Premiums, Discounts and Capitalized Expenses Related to Indebtedness |
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2.0 |
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4.3 |
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3.5 |
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3.6 |
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2.6 |
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Estimated Interest included in Rental Expense |
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22.7 |
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25.2 |
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24.1 |
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23.3 |
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24.5 |
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Total Fixed Charges |
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$107.3 |
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$97.0 |
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$88.8 |
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$86.7 |
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$85.5 |
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