EX-12.1 2 ex-121q42013.htm EXHIBIT EX-12.1 Q4 2013


Exhibit 12.1
STATEMENT RE COMPUTATION OF EARNINGS TO FIXED CHARGES
 
 
Year Ended December 31,
(In thousands, except ratios)
2013
 
2012
 
2011
 
2010
 
2009
Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
Income before income taxes
$
218,301

 
$
209,215

 
$
174,584

 
$
79,252

 
$
7,769

Add:
 
 
 
 
 
 
 
 
 
Amortization of capitalized interest
60

 
43

 
38

 
36

 
35

Fixed charges, net of capitalized interest
428

 
1,179

 
1,403

 
1,749

 
1,966

Income before income taxes and fixed charges, net
$
218,789

 
$
210,437

 
$
176,025

 
$
81,037

 
$
9,770

Fixed Charges:
 
 
 
 
 
 
 
 
 
Total interest expense
$
213

 
$
946

 
$
1,141

 
$
1,508

 
$
1,695

Capitalized interest
524

 
142

 
46

 
18

 
75

Interest factor in rents
215

 
233

 
262

 
241

 
271

Total fixed charges
$
952

 
$
1,321

 
$
1,449

 
$
1,767

 
$
2,041

Ratio of earnings to fixed charges
229.8x

 
159.3x

 
121.5x

 
45.9x

 
4.8x