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Constraining | ||
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Litigous | ||
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H.S. sophomore Good
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New words:
agreed, clarify, Deferral, Eighteenth, firm, footnote, platform
Removed:
JP, Morgan, NEO, slightly
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EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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| Six Months Ended |
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(In thousands, except ratios) |
| 2018 |
| 2017 |
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| (unaudited) |
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Earnings: |
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Net income |
| $ | 225,862 |
| $ | 185,862 |
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Add: |
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Provision for income taxes |
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| 62,866 |
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| 103,885 |
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Fixed charges |
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| 184,497 |
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| 167,815 |
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Less: |
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Capitalized interest |
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| (25,692) |
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| (21,931) |
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Earnings as adjusted (A) |
| $ | 447,533 |
| $ | 435,631 |
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Fixed charges: |
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Interest expense |
| $ | 158,427 |
| $ | 145,506 |
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Capitalized interest |
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| 25,692 |
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| 21,931 |
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Interest factors of rents (1) |
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| 378 |
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| 378 |
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Fixed charges as adjusted (B) |
| $ | 184,497 |
| $ | 167,815 |
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Ratio of earnings to fixed charges ((A) divided by (B)) |
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| 2.43 |
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| 2.60 |
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(1)Estimated to be 1/3 of rent expense.