Exhibit 12.1
(dollars in thousands) | Nine months ended September 30, | Year ended December 31, | ||||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Income before income taxes | $ | 43,195 | $ | 33,718 | $ | 62,278 | $ | 46,163 | $ | 66,007 | $ | 89,550 | ||||||||||||
Fixed charges (interest expense) | 327 | 856 | 862 | 798 | 1,582 | 1,526 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Earnings | $ | 43,522 | $ | 34,574 | $ | 63,140 | $ | 46,961 | $ | 67,589 | $ | 91,076 | ||||||||||||
Ratio of earnings to fixed charges | 133.09 | 40.39 | 73.25 | 58.85 | 42.72 | 59.68 | ||||||||||||||||||
Preferred stock dividends | ||||||||||||||||||||||||
Series A preferred stock | $ | 15 | $ | 20 | $ | 20 | $ | 27 | $ | 50 | $ | 50 | ||||||||||||
Series M preferred stock | 14 | 18 | 18 | 18 | 18 | 18 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 29 | $ | 38 | $ | 38 | $ | 45 | $ | 68 | $ | 68 | ||||||||||||
Combined fixed charges and preferred stock dividends | $ | 356 | $ | 894 | $ | 900 | $ | 843 | $ | 1,650 | $ | 1,594 | ||||||||||||
Ratio of combined fixed charges and preferred stock dividends to earnings | 0.01 | 0.03 | 0.01 | 0.02 | 0.02 | 0.02 |