Exhibit 12.1
| 2013 | 2014 | 2015 | 2016 | 2017 | Six Months YTD 2018 | |||||||||||||||||||
Pre-tax income from continuing operations before min. int. | 169,597 | 201,965 | 230,215 | 228,172 | 191,951 | 81,337 | ||||||||||||||||||
Equity loss (income) | (78 | ) | (720 | ) | 126 | 41 | 62 | 57 | ||||||||||||||||
Fixed charges | 47,941 | 45,674 | 48,840 | 59,384 | 63,082 | 35,893 | ||||||||||||||||||
Distributed income of equity investees | — | — | — | — | — | — | ||||||||||||||||||
Less capitalized interest | (836 | ) | (2,525 | ) | (5,478 | ) | (552 | ) | — | (69 | ) | |||||||||||||
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Earnings, as defined | 216,624 | 244,394 | 273,703 | 287,045 | 255,095 | 117,218 | ||||||||||||||||||
Interest expense | 43,596 | 40,047 | 40,389 | 55,685 | 59,860 | 34,119 | ||||||||||||||||||
Capitalized interest | 836 | 2,525 | 5,478 | 552 | 0 | 69 | ||||||||||||||||||
Amortization of debt & discount/premium | 3,509 | 3,102 | 2,973 | 3,147 | 3,222 | 1,705 | ||||||||||||||||||
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Fixed charges, as defined | 47,941 | 45,674 | 48,840 | 59,384 | 63,082 | 35,893 | ||||||||||||||||||
Ratio of earnings to fixed charges | 4.5 | 5.4 | 5.6 | 4.8 | 4.0 | 3.3 | ||||||||||||||||||