EX-12.1 4 mtz12311410-kex121.htm EXHIBIT 12.1 MTZ 12.31.14 10-K EX 12.1


Exhibit 12.1

Statement Regarding Computation of Ratio of Earnings to Fixed Charges


Ratio of Earnings to Fixed Charges (dollar amounts in thousands):

 
For the Years Ended December 31,
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
$
198,430

 
$
240,214

 
$
192,719

 
$
159,280

 
$
114,072

Add: Fixed charges
138,618

 
131,281

 
111,949

 
91,259

 
73,308

Less: Undistributed earnings (losses) from equity method investees
(269
)
 
—

 
—

 
39

 
(321
)
Total earnings
$
337,317

 
$
371,495

 
$
304,668

 
$
250,500

 
$
187,701

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
50,898

 
$
46,804

 
$
37,784

 
$
35,006

 
$
30,220

Estimate of interest expense within rental expense
87,720

 
84,477

 
74,165

 
56,253

 
43,088

Total fixed charges
$
138,618

 
$
131,281

 
$
111,949

 
$
91,259

 
$
73,308

Ratio of earnings to fixed charges
2.4

 
2.8

 
2.7

 
2.7

 
2.6