Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(in thousands of dollars, except ratios)
| Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Pre-tax income from continuing operations before adjustment for income or loss from equity investees | $ | 39,096 | $ | 219,575 | $ | 310,846 | $ | 291,198 | $ | 199,448 | $ | 118,783 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expenses including amortization of deferred financing costs and debt discounts | 24,279 | 47,696 | 37,146 | 20,321 | 25,983 | 34,864 | ||||||||||||||||||
Assumed interest component of rental expenses (1) | 1,920 | 3,998 | 3,026 | 3,000 | 2,932 | 2,737 | ||||||||||||||||||
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Total fixed charges | 26,199 | 51,694 | 40,172 | 23,321 | 28,915 | 37,601 | ||||||||||||||||||
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Earnings | $ | 65,295 | $ | 271,269 | $ | 351,018 | $ | 314,519 | $ | 228,363 | $ | 156,384 | ||||||||||||
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Ratio of earnings to fixed charges (2) | 2.49 | 5.25 | 8.74 | 13.49 | 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. |