EX-12.1 2 d282383dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except ratios)

 

     Years ended September 30,  
     2012     2013     2014     2015     2016  

Income before income taxes

    $ 313,304      $ 404,801      $ 397,293      $ 478,970      $ 312,755   

Fixed charges

      39,360        58,103        71,803        74,551        85,766   

Capitalized interest

      (32,900 )      (33,200 )      (30,000 )      (22,000 )      (17,200 ) 

Earnings

    $ 319,764      $ 429,704      $ 439,096      $ 531,521      $ 381,321   

Ratio of earnings to fixed charges

      8.1x        7.4x        6.1x        7.1x        4.4x   

For purposes of this table, “earnings” consists of income before income taxes plus fixed charges and less capitalized interest. “Fixed charges” consists of interest expense and capitalized interest.