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Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Fixed Charges and Preferred Share Distributions
(Amounts in thousands)
| Year ended December 31, 2013 | Year ended December 31, 2012 | Year ended December 31, 2011 | Year ended December 31, 2010 | Year ended December 31, 2009 | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earnings: | ||||||||||||||||
Income before income taxes | $ | 293,697 | $ | 348,230 | $ | 326,083 | $ | 371,766 | $ | 77,220 | ||||||
Add: Fixed charges from below | 190,159 | 216,608 | 183,067 | 156,852 | 289,374 | |||||||||||
| | | | | | | | | | | | | | | | |
Total earnings before income taxes and fixed charges | $ | 483,856 | $ | 564,838 | $ | 509,150 | $ | 528,618 | $ | 366,594 | ||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 190,159 | $ | 216,608 | $ | 183,067 | $ | 156,852 | $ | 289,374 | ||||||
| | | | | | | | | | | | | | | | |
Total fixed charges | $ | 190,159 | $ | 216,608 | $ | 183,067 | $ | 156,852 | $ | 289,374 | ||||||
Ratio of earnings to fixed charges | 2.5x | 2.6x | 2.8x | 3.4x | 1.3x | |||||||||||
Total fixed charges | $ | 190,159 | $ | 216,608 | $ | 183,067 | $ | 156,852 | $ | 289,374 | ||||||
Preferred share distributions | 27,411 | — | — | — | — | |||||||||||
| | | | | | | | | | | | | | | | |
Total fixed charges and preferred share distributions | $ | 217,570 | $ | 216,608 | $ | 183,067 | $ | 156,852 | $ | 289,374 | ||||||
Ratio of earnings to fixed charges and preferred share distributions | 2.2x | 2.6x | 2.8x | 3.4x | 1.3x |
Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Fixed Charges and Preferred Share Distributions (Amounts in thousands)