Exhibit 12.1
CINTAS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in Thousands)
Six months ended November 30, | Year Ended May 31, | ||||||||||||||||||||||
2016 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
Net income before income taxes | $ | 382,476 | $ | 718,122 | $ | 653,324 | $ | 537,127 | $ | 484,065 | $ | 444,982 | |||||||||||
Capitalized interest | 1,900 | 1,079 | 639 | — | — | 1,298 | |||||||||||||||||
Fixed charges | 31,012 | 68,712 | 68,415 | 68,247 | 68,015 | 74,399 | |||||||||||||||||
Earnings | $ | 415,388 | $ | 787,913 | $ | 722,378 | $ | 605,374 | $ | 552,080 | $ | 520,679 | |||||||||||
Fixed charges: | |||||||||||||||||||||||
Interest component of rent expense | $ | 1,673 | $ | 3,111 | $ | 2,615 | $ | 2,425 | $ | 2,303 | $ | 2,476 | |||||||||||
Interest expense | 27,439 | 64,522 | 65,161 | 65,822 | 65,712 | 70,625 | |||||||||||||||||
Capitalized interest | 1,900 | 1,079 | 639 | — | — | 1,298 | |||||||||||||||||
$ | 31,012 | $ | 68,712 | $ | 68,415 | $ | 68,247 | $ | 68,015 | $ | 74,399 | ||||||||||||
Ratio of earnings to fixed charges | 13.4 | 11.5 | 10.6 | 8.9 | 8.1 | 7.0 |