EX-12.1 3 a12-16174_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Statement of Computation of Ratio of Earnings to Fixed Charges

 

 

 

Six Months
Ended
June 30, 2012

 

 

 

 

 

Pre-tax income from continuing operations

 

$

16,300

 

 

 

 

 

Income from equity investees

 

(462

)

Fixed charges

 

37,954

 

Distribution of income from equity investee

 

2,000

 

Total earnings

 

$

55,792

 

 

 

 

 

Interest expense (1)

 

$

4,994

 

Estimated interest within rent expense (2) 

 

32,960

 

Total fixed charges

 

$

37,954

 

 

 

 

 

Ratio of earnings to fixed charges

 

1.47

 

 

(1)                  Includes interest expense and amortization of premiums and discounts related to indebtedness.

 

(2)                  Estimated interest within rent expense includes one third of real estate rental expense, which approximates the interest component of operating leases.