EX-12 3 exhibit12.htm STATEMENTS RE: COMPUTATION OF RATIOS Exhibit 12


Exhibit 12

Genesee & Wyoming Inc.
Ratio of Earnings to Fixed Charges
(in thousands)

 
 
2011
 
2010
 
2009
 
2008
 
2007
Earnings:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
 
$
158,024

 
$
108,833

 
$
75,991

 
$
97,884

 
$
90,795

Add: Total fixed charges
 
47,666

 
28,577

 
32,062

 
26,580

 
23,707

Less: Capitalized interest
 
1,969

 
—

 
—

 
—

 
—

Total earnings for computation of ratio
 
$
203,721

 
$
137,410

 
$
108,053

 
$
124,464

 
$
114,502

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense on all debt, including capitalized interest and amortization of debt issue costs from continuing operations
 
$
40,586

 
$
23,147

 
$
26,902

 
$
20,610

 
$
14,735

Interest expense on all debt and amortization of debt issue costs from discontinued operations
 
—

 
—

 
—

 
—

 
2,462

Portion of rental expense on operating leases attributable to interest
 
7,080

 
5,430

 
5,160

 
5,970

 
6,510

Total fixed charges
 
$
47,666

 
28,577

 
32,062

 
26,580

 
23,707

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
4.3

 
4.8

 
3.4

 
4.7

 
4.8