Exhibit 12.1
REPUBLIC SERVICES, INC.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio amounts)
Year Ended December 31, | ||||||||||||||||||||
12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 965.9 | $ | 1,195.9 | $ | 885.3 | $ | 851.2 | $ | 823.9 | ||||||||||
Add loss from unconsolidated equity method investment | 6.1 | — | — | — | — | |||||||||||||||
Add distributed income of unconsolidated equity method investment | 0.1 | — | — | — | — | |||||||||||||||
Less Minority Interest | (0.6 | ) | (0.5 | ) | (0.3 | ) | (0.2 | ) | (0.3 | ) | ||||||||||
Interest expense | 377.5 | 371.7 | 355.1 | 367.3 | 396.9 | |||||||||||||||
Interest component of rent | 18.9 | 17.9 | 16.4 | 15.9 | 15.3 | |||||||||||||||
Capitalized interest | (6.2 | ) | (6.8 | ) | (6.4 | ) | (7.3 | ) | (8.4 | ) | ||||||||||
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Total earnings for ratio | $ | 1,361.7 | $ | 1,578.2 | $ | 1,250.1 | $ | 1,226.9 | $ | 1,227.4 | ||||||||||
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Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 377.5 | $ | 371.7 | $ | 355.1 | $ | 367.3 | $ | 396.9 | ||||||||||
Interest component of rent | 18.9 | 17.9 | 16.4 | 15.9 | 15.3 | |||||||||||||||
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Total interest for ratio | $ | 396.4 | $ | 389.6 | $ | 371.5 | $ | 383.2 | $ | 412.2 | ||||||||||
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Ratio of earnings to fixed charges | 3.4 | 4.1 | 3.4 | 3.2 | 3.0 | |||||||||||||||
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