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Exhibit 12.1
STATEMENT RE COMPUTATION OF EARNINGS TO FIXED CHARGES
Nine Months Ended September 30, | Year Ended December 31, | ||||||||||||||||||||||
(In thousands, except ratios) | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||
Ratio of Earnings to Fixed Charges | |||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||
Income before income taxes | $ | 169,318 | $ | 209,215 | $ | 174,584 | $ | 79,252 | $ | 7,769 | $ | 56,564 | |||||||||||
Add: | |||||||||||||||||||||||
Amortization of capitalized interest | 56 | 43 | 38 | 36 | 35 | 32 | |||||||||||||||||
Fixed charges, net of capitalized interest | 376 | 1,179 | 1,403 | 1,749 | 1,966 | 2,151 | |||||||||||||||||
Income before income taxes and fixed charges, net | $ | 169,750 | $ | 210,437 | $ | 176,025 | $ | 81,037 | $ | 9,770 | $ | 58,747 | |||||||||||
Fixed Charges: | |||||||||||||||||||||||
Total interest expense | $ | 213 | $ | 946 | $ | 1,141 | $ | 1,508 | $ | 1,695 | $ | 1,669 | |||||||||||
Capitalized interest | 387 | 142 | 46 | 18 | 75 | 390 | |||||||||||||||||
Interest factor in rents | 163 | 233 | 262 | 241 | 271 | 482 | |||||||||||||||||
Total fixed charges | $ | 763 | $ | 1,321 | $ | 1,449 | $ | 1,767 | $ | 2,041 | $ | 2,541 | |||||||||||
Ratio of earnings to fixed charges | 222.5x | 159.3x | 121.5x | 45.9x | 4.8x | 23.1x |