Calculation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
|
| Three |
| Year Ended December 31, |
| ||||||||
|
| 2018 |
| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
|
Income before income taxes and noncontrolling interest |
| 468,536 |
| 113,164 |
| 179,591 |
| 215,929 |
| 193,558 |
| 187,600 |
|
Financing interest expense on long-term borrowings |
| 19,047 |
| 64,107 |
| 28,327 |
| 29,254 |
| 30,894 |
| 24,646 |
|
Earnings available for fixed charges |
| 487,583 |
| 177,271 |
| 207,918 |
| 245,183 |
| 224,452 |
| 212,246 |
|
Fixed charges |
| 19,047 |
| 64,107 |
| 28,327 |
| 29,254 |
| 30,894 |
| 24,646 |
|
Ratio of earnings to fixed charges |
| 25.6x |
| 2.8x |
| 7.3x |
| 8.4x |
| 7.3x |
| 8.6x |
|