Ratio of Income ToCombined FixedCharges AndPreferred StockDividends
Thefollowing table sets forth thecalculation of our ratio ofearnings tocombined fixedcharges andpreferred stock
dividends for the periods shown:
| For the 9 Months | ||||||||||||||||||
| Ended | For the Year Ended | |||||||||||||||||
| September 30, 2015 | December 31, 2014 | December 31, 2013 | December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||||||
| (dollars in thousands) | ||||||||||||||||||
| Net income before taxes | 134,969 | 589,207 | 362,688 | 327,768 | 137,935 | 249,161 | ||||||||||||
| Add: fixed charges (interest expense) (1) | 227,748 | 200,430 | 123,856 | 146,781 | 150,787 | 152,236 | ||||||||||||
| preferred stock dividend | ||||||||||||||||||
| Income as adjusted | 362,717 | 789,637 | 486,544 | 474,549 | 288,722 | 401,397 | ||||||||||||
| Fixed charges (interest expense) + preferred stock dividend | 227,748 | 200,430 | 123,856 | 146,781 | 150,787 | 152,236 | ||||||||||||
| Ratio of income (losses) to combined fixed charges | ||||||||||||||||||
| and preferred stock dividends | 1.59x | 3.94x | 3.93x | 3.23x | 1.91x | 2.64x | ||||||||||||
| Deficiency | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||
(1)Includes effect ofrealized losses on interest rate swaps.
