EXHIBIT 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(In thousands)
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||
Earnings: | |||||||||||||
Income (loss) before income tax provision | $ 508,510 | $ 361,365 | $ (126,286) | $ 385,662 | $ 320,921 | ||||||||
Plus: fixed charges per below | 132,502 | 97,645 | 69,775 | 70,194 | 80,197 | ||||||||
Less: capitalized interest per below | - | - | - | - | |||||||||
Plus: current period amortization of interest | |||||||||||||
capitalized in prior periods | 49 | 49 | 49 | 49 | 49 | ||||||||
Total earnings | $ 641,061 | $ 459,059 | $ (56,462) | $ 455,905 | $ 401,167 | ||||||||
Fixed charges: | |||||||||||||
Interest expense | $ 125,297 | $ 92,709 | $ 64,236 | $ 64,674 | $ 73,579 | ||||||||
Capitalized interest | - | - | - | - | |||||||||
Interest portion of rent expense | 7,205 | 4,937 | 5,540 | 5,520 | 6,618 | ||||||||
Total fixed charges | $ 132,502 | $ 97,645 | $ 69,776 | $ 70,194 | $ 80,197 | ||||||||
Ratio of earnings to fixed charges | 4.8 | 4.7 | (0.8) | 6.5 | 5.0 | ||||||||
Insufficient coverage | $ - | $ - | $ 126,237 | $ - | $ - |