EX-12.1 2 ex-121q32013.htm EXHIBIT EX-12.1 Q3 2013


Exhibit 12.1
STATEMENT RE COMPUTATION OF EARNINGS TO FIXED CHARGES
 
 
Nine Months Ended September 30,
 
Year Ended December 31,
(In thousands, except ratios)
2013
 
2012
 
2011
 
2010
 
2009
 
2008
Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
169,318

 
$
209,215

 
$
174,584

 
$
79,252

 
$
7,769

 
$
56,564

Add:
 
 
 
 
 
 
 
 
 
 
 
Amortization of capitalized interest
56

 
43

 
38

 
36

 
35

 
32

Fixed charges, net of capitalized interest
376

 
1,179

 
1,403

 
1,749

 
1,966

 
2,151

Income before income taxes and fixed charges, net
$
169,750

 
$
210,437

 
$
176,025

 
$
81,037

 
$
9,770

 
$
58,747

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Total interest expense
$
213

 
$
946

 
$
1,141

 
$
1,508

 
$
1,695

 
$
1,669

Capitalized interest
387

 
142

 
46

 
18

 
75

 
390

Interest factor in rents
163

 
233

 
262

 
241

 
271

 
482

Total fixed charges
$
763

 
$
1,321

 
$
1,449

 
$
1,767

 
$
2,041

 
$
2,541

Ratio of earnings to fixed charges
222.5x

 
159.3x

 
121.5x

 
45.9x

 
4.8x

 
23.1x