EX-12.1 7 d458590dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIOS

 

     Years ended December 31,     6 Months
Ended
June 30,
2017		  
     2012     2013     2014     2015     2016    

Pre-tax income from continuing operations before min. int.

      244,479       169,597       201,965       230,215       228,172       101,249  

Equity loss (income)

      (323 )      (78 )      (720 )      126       41       21  

Fixed charges

      61,554       47,941       45,674       48,840       59,384       30,346  

Distributed income of equity investees

      —         —         —         —         —         —    

Less capitalized interest

      (1,057 )      (836 )      (2,525 )      (5,478 )      (552 )      —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings, as defined

      304,653       216,624       244,394       273,703       287,045       131,616  

Interest expense

      56,181       43,596       40,047       40,389       55,685       28,780  

Capitalized interest

      1,057       836       2,525       5,478       552       —    

Amortization of debt & discount/premium

      4,316       3,509       3,102       2,973       3,147       1,566  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges, as defined

      61,554       47,941       45,674       48,840       59,384       30,346  

Ratio of earnings to fixed charges

      4.9 x      4.5 x      5.4 x      5.6 x      4.8 x      4.3 x