EX-12 3 ryderex12-q32018.htm EXHIBIT 12 Exhibit


EXHIBIT 12
Ryder System, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
Continuing Operations
(Dollars in thousands)
 
 
For the nine months ended September 30, 2018
 
 
 
 
EARNINGS:
 
 
Earnings before income taxes
 
$
262,523

Fixed charges
 
161,657

Add: Amortization of capitalized interest
 
596

Less: Interest capitalized
 
—

Earnings available for fixed charges (A)
 
$
424,776

 
 
 
FIXED CHARGES:
 
 
Interest and other financial charges
 
$
127,529

Portion of rents representing interest expense
 
34,128

Total fixed charges (B)
 
$
161,657

 
 
 
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B)
 
2.63