EX-12.1 3 t83488_ex12-1.htm EXHIBIT 12.1

 

 

Exhibit 12.1

 

RATIO OF EARNINGS TO FIXED CHARGES 

 

The following table sets forth our ratio of earnings to fixed charges on a reported basis for the periods indicated. Earnings consist of income from continuing operations plus fixed charges. Fixed charges consist of interest expense, amortization of deferred financing costs and costs related to retiring certain debt early. We have calculated the ratio of earnings to fixed charges by adding net income from continuing operations to fixed charges and dividing that sum by such fixed charges.

 

                       Nine Months Ended  
   Year Ended December 31,   September 30,  
   2010   2011   2012   2013   2014   2015  
                          
Income  $58,436   $52,606   $120,689   $172,521   $221,349   $169,772  
Interest Expense   90,602    86,899    106,096    92,048    126,869    122,173  
Income before fixed charges  $149,038   $139,505   $226,794   $264,569   $348,218   $291,945  
                                
Capitalized Interest  $22   $139   $240   $190   $   $1,945  
Interest Expense  $90,602   $86,899   $106,096   $92,048   $126,869   $122,173  
Total Fixed Charges  $90,624   $87,038   $106,336   $92,238   $126,869   $124,118  
Earnings / Fixed Charge
coverage ratio
   1.6x   1.6x   2.1x   2.9x   2.7x   2.4 x