Years Ended December 31, | ||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
Net Income before income taxes | $ | 144.0 | $ | 140.7 | $ | 99.4 | $ | 106.6 | $ | 53.1 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Assumed interest on capital assets (1) | $ | 1.7 | $ | 1.7 | $ | 1.8 | $ | 2.8 | $ | 3.1 | ||||||||||
Interest on indebtedness | 1.4 | 1.6 | 2.7 | 3.0 | 3.2 | |||||||||||||||
Total fixed charges | $ | 3.1 | $ | 3.3 | $ | 4.5 | $ | 5.8 | $ | 6.3 | ||||||||||
Net income before income taxes plus fixed charges | $ | 147.1 | $ | 144.0 | $ | 103.9 | $ | 112.4 | $ | 59.4 | ||||||||||
Ratio of earnings to fixed charges | 47.5 | 43.6 | 23.1 | 19.4 | 9.4 |
(1) | Interest component of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor. |