EX-12.1 5 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

Statement Regarding Computation of Ratio of Earnings to Fixed Charges

Ratio of Earnings to Fixed Charges |  | Year Ended December 31, |  |  | Nine months ended September 30, 2010 |
|  | 2009 |  |  | 2008 |  |  | 2007 |  |  | 2006 |  |  | 2005 |  |
Earnings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to MasTec |  | $ | 70,748 |  |  | $ | 65,788 |  |  | $ | (7,328 | ) |  | $ | (50,348 | ) |  | $ | (14,616 | ) |  | $ | 52,017 |
Provision for income taxes |  |  | 8,385 |  |  |  | 870 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35,912 |
Income attributable to MasTec before income taxes |  |  | 79,133 |  |  |  | 66,658 |  |  |  | (7,328 | ) |  |  | (50,348 | ) |  |  | (14,616 | ) |  |  | 87,929 |
Add: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Minority interest (1) |  | $ | — |  |  | $ | — |  |  | $ | 2,459 |  |  | $ | 2,294 |  |  | $ | 1,714 |  |  | $ | — |
Loss from discontinued operations |  |  | — |  |  |  | 814 |  |  |  | 13,611 |  |  |  | 90,398 |  |  |  | 35,947 |  |  |  | — |
Fixed charges |  |  | 51,237 |  |  |  | 36,928 |  |  |  | 32,168 |  |  |  | 31,186 |  |  |  | 35,297 |  |  |  | 51,187 |
Subtotal Earnings |  | $ | 130,370 |  |  | $ | 104,400 |  |  | $ | 40,910 |  |  | $ | 73,530 |  |  | $ | 58,342 |  |  | $ | 139,116 |
Less: Undistributed earnings of less-than-50% owned affiliates |  |  | — |  |  |  | — |  |  |  | 119 |  |  |  | 5,772 |  |  |  | 285 |  |  |  | — |
Total Earnings |  | $ | 130,370 |  |  | $ | 104,400 |  |  | $ | 40,791 |  |  | $ | 67,758 |  |  | $ | 58,057 |  |  | $ | 139,116 |
Fixed Charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | $ | 25,944 |  |  | $ | 17,721 |  |  | $ | 16,135 |  |  | $ | 14,453 |  |  | $ | 19,463 |  |  | $ | 22,732 |
Estimate of interest within rental expense |  |  | 25,293 |  |  |  | 19,207 |  |  |  | 16,033 |  |  |  | 16,733 |  |  |  | 15,834 |  |  |  | 28,455 |
Total Fixed Charges |  | $ | 51,237 |  |  | $ | 36,928 |  |  | $ | 32,168 |  |  | $ | 31,186 |  |  | $ | 35,297 |  |  | $ | 51,187 |
Ratio of Earnings to Fixed Charges |  |  | 2.5x |  |  |  | 2.8x |  |  |  | 1.3x |  |  |  | 2.2x |  |  |  | 1.6x |  |  |  | 2.7x |

(1) | In years prior to the adoption of SFAS 160, Non-controlling Interests in Consolidated Financial Statements, (2004-2008), other parties’ interests in less-than-100%-owned subsidiaries were accounted for as minority interest. Upon the adoption of SFAS 160 in 2009, these interests are accounted for as non-controlling interests and are excluded from net income attributable to MasTec. Therefore, no further adjustment for the non-controlling interest portion of net income is required in 2009 or 2010.