Exhibit 12.1
Year Ended December 31, | ||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
Computation of ratio of net income to fixed charges | ||||||||||||||||||||
Fixed charges (1) | $ | 197,064 | $ | 144,662 | $ | 95,923 | $ | 96,267 | $ | 104,481 | ||||||||||
Fixed charges (1) | $ | 197,064 | $ | 144,662 | $ | 95,923 | $ | 96,267 | $ | 104,481 | ||||||||||
Net income | 349,245 | 284,373 | 169,500 | 174,400 | 79,129 | |||||||||||||||
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$ | 546,309 | $ | 429,035 | $ | 265,423 | $ | 270,667 | $ | 183,610 | |||||||||||
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Ratio of earnings to combined fixed charges | 2.77 | 2.97 | 2.77 | 2.81 | 1.76 | |||||||||||||||
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Computation of ratio of net income to combined fixed charges and preferred stock dividends: | ||||||||||||||||||||
Fixed charges (1) | $ | 197,064 | $ | 144,662 | $ | 95,923 | $ | 96,267 | $ | 104,481 | ||||||||||
Preferred stock dividends (2) | 7,551 | — | — | — | — | |||||||||||||||
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Combined fixed charges and preferred stock dividends | $ | 204,615 | $ | 144,662 | $ | 95,923 | $ | 96,267 | $ | 104,481 | ||||||||||
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Combined fixed charges and preferred stock dividends | $ | 204,615 | $ | 144,662 | $ | 95,923 | $ | 96,267 | $ | 104,481 | ||||||||||
Net income | 349,245 | 284,373 | 169,500 | 174,400 | 79,129 | |||||||||||||||
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$ | 553,860 | $ | 429,035 | $ | 265,423 | $ | 270,667 | $ | 183,610 | |||||||||||
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Ratio of earnings to combined fixed charges and preferred stock dividends | 2.71 | 2.97 | 2.77 | 2.81 | 1.76 | |||||||||||||||
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(1) | Fixed charges consist of interest expense on all indebtedness. |
(2) | No preferred stock was outstanding during 2011, 2010, 2009, and 2008. |