EX-12.2 3 cor-20161231ex122c86917.htm EX-12.2 cor_Ex12_2

Exhibit 12.2

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2016

 

2015

 

2014

 

2013

 

2012

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Net income

 

$
81,921

 

$
56,859

 

$
40,052

 

$
31,612

 

$
10,716

 Add: Fixed charges

 

 
21,484

 

 
15,184

 

 
14,639

 

 
12,016

 

 
10,792

 Add: Amortization of capitalized interest

 

 
1,936

 

 
1,545

 

 
1,128

 

 
679

 

 
369

 Less: Capitalized interest

 

 
(4,121)

 

 
(3,698)

 

 
(4,633)

 

 
(4,362)

 

 
(1,837)

Total earnings

 

$
101,220

 

$
69,890

 

$
51,186

 

$
39,945

 

$
20,040

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Interest expense (including amortization of deferred financing costs)

 

$
12,612

 

$
7,104

 

$
5,311

 

$
2,689

 

$
5,236

 Capitalized interest

 

 
4,121

 

 
3,698

 

 
4,633

 

 
4,362

 

 
1,837

 Interest within rental expense

 

 
4,751

 

 
4,382

 

 
4,695

 

 
4,965

 

 
3,719

Total fixed charges

 

 
21,484

 

 
15,184

 

 
14,639

 

 
12,016

 

 
10,792

Preferred stock dividend requirements

 

 
8,338

 

 
8,338

 

 
8,338

 

 
8,338

 

 
440

Combined fixed charges and preferred stock dividends

 

$
29,822

 

$
23,522

 

$
22,977

 

$
20,354

 

$
11,232

Ratio of earnings to combined fixed charges and preferred stock dividends

 

 
3.39

 

 
2.97

 

 
2.23

 

 
1.96

 

 
1.78