Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIOS
| Years ended December 31, | 6 Months Ended June 30, 2017 | |||||||||||||||||||||||
| 2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||||||
Pre-tax income from continuing operations before min. int. | 244,479 | 169,597 | 201,965 | 230,215 | 228,172 | 101,249 | ||||||||||||||||||
Equity loss (income) | (323 | ) | (78 | ) | (720 | ) | 126 | 41 | 21 | |||||||||||||||
Fixed charges | 61,554 | 47,941 | 45,674 | 48,840 | 59,384 | 30,346 | ||||||||||||||||||
Distributed income of equity investees | — | — | — | — | — | — | ||||||||||||||||||
Less capitalized interest | (1,057 | ) | (836 | ) | (2,525 | ) | (5,478 | ) | (552 | ) | — | |||||||||||||
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Earnings, as defined | 304,653 | 216,624 | 244,394 | 273,703 | 287,045 | 131,616 | ||||||||||||||||||
Interest expense | 56,181 | 43,596 | 40,047 | 40,389 | 55,685 | 28,780 | ||||||||||||||||||
Capitalized interest | 1,057 | 836 | 2,525 | 5,478 | 552 | — | ||||||||||||||||||
Amortization of debt & discount/premium | 4,316 | 3,509 | 3,102 | 2,973 | 3,147 | 1,566 | ||||||||||||||||||
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Fixed charges, as defined | 61,554 | 47,941 | 45,674 | 48,840 | 59,384 | 30,346 | ||||||||||||||||||
Ratio of earnings to fixed charges | 4.9 | x | 4.5 | x | 5.4 | x | 5.6 | x | 4.8 | x | 4.3 | x | ||||||||||||