Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
The following table sets forth our ratio of earnings to fixed charges for the periods indicated. All amounts are in thousands, except for the ratio of earnings to fixed charges.
| Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
| (in thousands) | ||||||||||||||||||||||||
Income before income taxes | $ | 407,990 | $ | 789,692 | $ | 760,009 | $ | 609,473 | $ | 493,489 | $ | 474,201 | ||||||||||||
Interest expense | 19,849 | 38,902 | 34,533 | 30,541 | 23,643 | 18,889 | ||||||||||||||||||
(Net income)/loss attributable to noncontrolling interest | (6,277 | ) | (10,161 | ) | (12,068 | ) | (9,469 | ) | 1,834 | 0 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Adjusted Earnings | $ | 421,562 | $ | 818,433 | $ | 782,474 | $ | 630,545 | $ | 518,966 | $ | 493,090 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed Charges | $ | 19,849 | $ | 38,902 | $ | 34,533 | $ | 30,541 | $ | 23,643 | $ | 18,889 | ||||||||||||
Ratio of Earnings to Fixed Charges | 21.2x | 21.0x | 22.7x | 20.6x | 22.0x | 26.1x | ||||||||||||||||||
