EX-12.1 2 a2228510zex-12_1.htm EX-12.1
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EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

        For the three months ended March 31, 2016 and 2015, the computation of ratio of earnings to fixed charges is as follows (dollars in thousands):

 
   2016   2015  

Earnings:

              

Income before taxes

   $ 83,565   $ 81,986  

Fixed charges

     71,985     74,712  
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Total earnings

   $ 155,550   $ 156,698  
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Fixed charges:

              

Interest expense inclusive of amortized premiums, discounts and capitalized expenses related to indebtedness

   $ 71,971   $ 74,694  

Estimate of the interest component of rental expense

     14     18  
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Total fixed charges

   $ 71,985   $ 74,712  
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Ratio of earnings to fixed charges

     2.16     2.10  
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES