Exhibit 12.1
RATIOS OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of consolidated earnings to fixed charges for the periods presented.
Year Ended December 31, | Nine Months Ended September 30, 2014 | |||||||||||||||||||||||
| 2009 | 2010 | 2011 | 2012 | 2013 | ||||||||||||||||||||
Ratio of earnings to fixed charges | 1.7x | 2.0x | 2.6x | 2.8x | 2.8x | 2.5x | ||||||||||||||||||
For purposes of calculating the ratio of consolidated earnings to fixed charges:
| • | “earnings” is the aggregate of the following: pre-tax income from continuing operations; plus fixed charges; less capitalized interest; and |
| • | “fixed charges” means the sum of the following: interest expense; interest capitalized; an estimate of the interest within rental expense. |
We did not have any preferred stock outstanding and there were no preferred stock dividends paid or accrued during the periods presented above.