S-4: Registration of securities issued in business combination transactions
Published on November 12, 2015
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 | 1.6 | x | 1.6 | x | 2.1 | x | 2.9 | x | 2.7 | x | 2.4 | x | ||||||||||||