EX-12.1 2 cor-20171231ex121c347c2.htm EX-12.1 cor_Ex12_1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2017

 

2016

 

2015

 

2014

 

2013

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Net income

   

$

100,491

   

$

81,921

   

$

56,859

   

$

40,052

   

$

31,612

 Add: Fixed charges

 

 

32,315

 

 

21,484

 

 

15,184

 

 

14,639

 

 

12,016

 Add: Amortization of capitalized interest

 

 

2,306

 

 

1,936

 

 

1,545

 

 

1,128

 

 

679

 Less: Capitalized interest

 

 

(3,282)

 

 

(4,121)

 

 

(3,698)

 

 

(4,633)

 

 

(4,362)

Total earnings

 

$

131,830

 

$

101,220

 

$

69,890

 

$

51,186

 

$

39,945

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Interest expense (including amortization of deferred financing costs)

 

$

24,147

 

$

12,612

 

$

7,104

 

$

5,311

 

$

2,689

 Capitalized interest

 

 

3,282

 

 

4,121

 

 

3,698

 

 

4,633

 

 

4,362

 Interest within rental expense

 

 

4,886

 

 

4,751

 

 

4,382

 

 

4,695

 

 

4,965

Total fixed charges

 

$

32,315

 

$

21,484

 

$

15,184

 

$

14,639

 

$

12,016

Ratio of earnings to combined fixed charges

 

 

4.08

 

 

4.71

 

 

4.60

 

 

3.50

 

 

3.32