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?Positive | ||
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Uncertain | ||
Constraining | ||
Legalese | ||
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H.S. freshman Good
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New words:
AOCI, apparent, auditor, behalf, bond, bridge, bringing, broad, catalyst, chart, contemporaneously, Corte, disregarded, ease, entry, erosion, ethylene, exempt, exemption, fall, Firenze, Florence, fraud, grandfathering, indefinitely, Introducing, modal, package, PCAOB, percent, pronounced, provisional, refunded, regular, Repealing, respond, restated, role, Room, Russian, slowly, sp, stranded, suggest, superior, Swidnica, taxation, territorial, Tezel, treatment, truck, trucking, unclear, viewed, Wagony, Washington, withheld, withholding
Removed:
Adam, Alliance, appraisal, cease, China, closure, collateralized, consolidate, curtail, drilling, DVB, Electric, enterprise, Forfeiture, frac, Francisco, gasoline, hopper, implying, important, initially, Intermodal, offshore, Ontario, opportunistically, Pan, pretax, pursuing, pushboat, reflective, relation, removed, repayment, San, sand, SCC, schedule, SE, Shanghai, Southern, steam, Str, structured, supplement, supporting, tonnage, twelve, unamortized, uneconomical, unitized, Valor, Victory, VII, warranty
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Exhibit 12
GATX CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(In millions, except ratios)
Year Ended December 31 | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Earnings available for fixed charges: | |||||||||||||||||||
Income before income taxes and share of affiliates' earnings | $ | 214.4 | $ | 305.4 | $ | 270.3 | $ | 231.2 | $ | 159.0 | |||||||||
Add: | |||||||||||||||||||
Dividends from affiliated companies | 30.2 | 35.2 | 32.2 | 40.0 | 34.4 | ||||||||||||||
Total fixed charges | 188.7 | 178.7 | 191.5 | 206.6 | 224.1 | ||||||||||||||
Total earnings available for fixed charges | $ | 433.3 | $ | 519.3 | $ | 494.0 | $ | 477.8 | $ | 417.5 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 163.6 | $ | 150.0 | $ | 156.2 | $ | 159.3 | $ | 167.8 | |||||||||
Interest portion of operating lease expense | 25.1 | 28.7 | 35.3 | 47.3 | 56.0 | ||||||||||||||
Preferred dividends on pre-tax basis | — | — | — | — | 0.3 | ||||||||||||||
Total fixed charges | $ | 188.7 | $ | 178.7 | $ | 191.5 | $ | 206.6 | $ | 224.1 | |||||||||
Ratio of earnings to fixed charges | 2.30 | 2.91 | 2.58 | 2.31 | 1.86 |