EX-12.1 3 ryderex121-q32016.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1
Ryder System, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
Continuing Operations
(Dollars in thousands)
 
 
For the nine months ended September 30, 2016
 
 
 
 
EARNINGS:
 
 
Earnings before income taxes
 
337,185

Fixed charges
 
144,393

Add: Amortization of capitalized interest
 
456

Less: Interest capitalized
 
—

Earnings available for fixed charges (A)
 
482,034

 
 
 
FIXED CHARGES:
 
 
Interest and other financial charges
 
112,597

Portion of rents representing interest expense
 
31,796

Total fixed charges (B)
 
144,393

 
 
 
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B)
 
3.34x