EX-12.1 9 al-20180331ex12101d615.htm EX-12.1 al_Ex12_1

 

EXHIBIT 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
 March 31,

 

(In thousands, except ratios)

 

2018

 

2017

 

 

 

(unaudited)

 

Earnings:

    

 

    

 

 

Net income

 

$

110,651 

 

$

84,937 

 

Add:

 

 

 

 

 

 

 

Provision for income taxes

 

 

30,668 

 

 

48,941 

 

Fixed charges

 

 

89,970 

 

 

87,646 

 

Less:

 

 

 

 

 

 

 

Capitalized interest

 

 
(12,816)

 

 
(11,402)

 

Earnings as adjusted (A)

 

$

218,473 

 

$

210,122 

 

Fixed charges:

 

 

 

 

 

 

 

Interest expense

 

$

76,965 

 

$

76,055 

 

Capitalized interest

 

 

12,816 

 

 

11,402 

 

Interest factors of rents (1)

 

 

189 

 

 

189 

 

Fixed charges as adjusted (B)

 

$

89,970 

 

$

87,646 

 

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

 

 

2.43 

 

 

2.40 

 

 

 

 

 

 

 

 

 

(1)    Estimated to be 1/3 of rent expense.