EX-12.1 22 al-20160630ex121e0320a.htm EX-12.1 al_Ex12_1

 

EXHIBIT 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

Six Months Ended
 June 30,

 

(In thousands, except ratios)

 

2016

 

2015

 

 

 

(unaudited)

 

Earnings:

 

 

 

 

 

Net income

    
$
184,661 

    
$
95,450 

 

Add:

 

 

 

 

 

Provision for income taxes

 
101,601 

 
52,688 

 

Fixed charges

 
158,572 

 
149,924 

 

Less:

 

 

 

 

 

Capitalized interest

 
(19,521)

 
(20,702)

 

Earnings as adjusted (A)

 
$
425,313 

 
$
277,360 

 

Fixed charges:

 

 

 

 

 

Interest expense

 
$
138,699 

 
$
128,914 

 

Capitalized interest

 
19,521 

 
20,702 

 

Interest factors of rents (1)

 
352 

 
308 

 

Fixed charges as adjusted (B)

 
$
158,572 

 
$
149,924 

 

Ratio of earnings to fixed charges ((A) divided by (B))

 
2.68 

 
1.85 

 

(1)

Estimated to be 1/3 of rent expense.