EX-12.1 8 mtz3311710-qex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollar amounts in thousands)
 
For the Three Months Ended March 31,
 
2017
 
2016
Earnings:
 
 
 
Income (loss) before income taxes
$
67,985

 
$
(4,968
)
Add: Fixed charges
39,681

 
36,000

Less: Undistributed earnings from equity method investees
1,646

 
3,066

Total earnings
$
106,020

 
$
27,966

Fixed charges:
 
 
 
Interest expense
$
12,777

 
$
12,324

Estimate of interest expense within rental expense
26,904

 
23,676

Total fixed charges
$
39,681

 
$
36,000

Ratio of earnings to fixed charges
2.7

 
0.8