EX-12 2 a2021q3exhibit12.htm EX-12 Document

Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except for ratio)
Nine Months Ended September 30,
2021
Earnings:
Income (loss) before income taxes$181,473 
Add: Fixed Charges58,780 
Add: Amortization of capitalized interest173 
Less: Interest capitalized401 
Less: Earnings from joint venture, net239 
Total earnings (loss)$239,786 
Fixed charges:
Interest costs(1)
$50,103 
Interest factor of operating lease expense(2)
8,677 
Total fixed charges$58,780 
Ratio of earnings (loss) to fixed charges(3)
4.08 
(1)Interest costs include both interest expensed and capitalized, including amortization of deferred financing costs and original issue discount on debt.
(2)Interest factor of operating lease expense is based on an estimate which the Company considers to be a reasonable approximation.
(3)The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges.