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EXHIBIT 12.1
Ryder System, Inc. and Subsidiaries | ||||
Ratio of Earnings to Fixed Charges | ||||
Continuing Operations | ||||
(Dollars in thousands) | ||||
For the three months ended March 31, 2017 | ||||
EARNINGS: | ||||
Earnings before income taxes | $ | 59,956 | ||
Fixed charges | 45,715 | |||
Add: Amortization of capitalized interest | 148 | |||
Less: Interest capitalized | — | |||
Earnings available for fixed charges (A) | $ | 105,819 | ||
FIXED CHARGES: | ||||
Interest and other financial charges | $ | 34,886 | ||
Portion of rents representing interest expense | 10,829 | |||
Total fixed charges (B) | $ | 45,715 | ||
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B) | 2.31x | |||