EX-12.1 2 al-20160930ex1218bb00e.htm EX-12.1 al_Ex12_1

 

EXHIBIT 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended
 September 30,

 

(In thousands, except ratios)

    

2016

    

2015

 

 

 

(unaudited)

 

Earnings:

 

 

 

 

 

 

 

Net income

 

$
277,937 

 

$
172,492 

 

Add:

 

 

 

 

 

 

 

Provision for income taxes

 

 
152,898 

 

 
95,233 

 

Fixed charges

 

 
242,178 

 

 
227,397 

 

Less:

 

 

 

 

 

 

 

Capitalized interest

 

 
(30,137)

 

 
(30,499)

 

Earnings as adjusted (A)

 

$
642,876 

 

$
464,623 

 

Fixed charges:

 

 

 

 

 

 

 

Interest expense

 

$
211,500 

 

$
196,436 

 

Capitalized interest

 

 
30,137 

 

 
30,499 

 

Interest factors of rents (1)

 

 
541 

 

 
462 

 

Fixed charges as adjusted (B)

 

$
242,178 

 

$
227,397 

 

Ratio of earnings to fixed charges ((A) divided by (B))

 

 
2.65 

 

 
2.04 

 

(1)

Estimated to be 1/3 of rent expense.