EX-12.01 4 a13-27207_1ex12d01.htm EX-12.01

Exhibit 12.01

 

Computation of Ratio of Earnings to Fixed Charges

 

Earnings to Fixed Charges

 

 

 

Years ended December 31,

 

(Dollars in thousands) 

 

2013

 

2012

 

2011

 

2010

 

2009

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Income before assessments

 

$

338,600

 

$

401,020

 

$

302,623

 

$

375,501

 

$

777,695

 

Fixed Charges

 

367,235

 

437,676

 

445,579

 

623,824

 

1,158,079

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Earnings

 

$

705,835

 

$

838,696

 

$

748,202

 

$

999,325

 

$

1,935,774

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

$

366,235

 

$

436,676

 

$

444,579

 

$

622,824

 

$

1,157,079

 

Estimated interest component of other expenses

 

1,000

 

1,000

 

1,000

 

1,000

 

1,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges

 

$

367,235

 

$

437,676

 

$

445,579

 

$

623,824

 

$

1,158,079

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.92

 

1.92

 

1.68

 

1.60

 

1.67