Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(in thousands of dollars, except ratios)
| Year Ended December 31, | ||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Pre-tax income from continuing operations before adjustment for income or loss from equity investees | $ | 195,868 | $ | 291,016 | $ | 283,077 | $ | 199,448 | $ | 118,783 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expenses including amortization of deferred financing costs and debt discounts | 47,696 | 37,146 | 20,321 | 25,983 | 34,864 | |||||||||||||||
Assumed interest component of rental expenses (1) | 3,998 | 3,026 | 3,000 | 2,932 | 2,737 | |||||||||||||||
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Total fixed charges | 51,694 | 40,172 | 23,321 | 28,915 | 37,601 | |||||||||||||||
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Earnings | $ | 247,562 | $ | 331,188 | $ | 306,398 | $ | 228,363 | $ | 156,384 | ||||||||||
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Ratio of earnings to fixed charges (2) | 4.79 | 8.24 | 13.14 | 7.90 | 4.16 | |||||||||||||||
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Deficiency of earnings to fixed charges | — | — | — | — | — | |||||||||||||||
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| (1) | Estimated as 33% of operating lease expense for buildings and equipment and 10% of operating lease expense for ecoATM kiosk locations. |
| (2) | During the periods covered by this table, we did not have any shares of preferred stock outstanding. |