EX-12.1 5 h10050035x1_ex12-1.htm EXHIBIT 12.1
Exhibit 12.1
 
Kirby Corporation, Inc.
Ratio of Earnings to Fixed Charges
Unaudited
(Dollars in thousands)

   
Nine Months Ended
September 30,
    
Years Ended December 31,
  
   
2017
    
2016
    
2015
    
2014
    
2013
    
2012
  
                                     
Ratio of Earnings to Fixed Charges
                                    
Earnings:
                                    
Earnings before fixed charges
  
$
130,714
    
$
222,944
    
$
357,859
    
$
450,765
    
$
405,092
    
$
339,219
  
Add:   fixed charges
    
28,149
      
38,162
      
39,127
      
40,831
      
46,577
      
42,143
  
   
$
158,863
    
$
261,106
    
$
396,986
    
$
491,596
    
$
451,669
    
$
381,362
  
Fixed Charges:
                                                
Interest expensed and capitalized
  
$
15,046
    
$
19,863
    
$
20,387
    
$
19,738
    
$
25,259
    
$
21,825
  
Amortized premiums, discounts and capitalized expenses related to indebtedness
    
786
      
801
      
1,377
      
2,362
      
2,613
      
2,560
  
An estimate of the interest within rental expense
    
12,317
      
17,498
      
17,363
      
18,731
      
18,705
      
17,758
  
Total fixed charges
  
$
28,149
    
$
38,162
    
$
39,127
    
$
40,831
    
$
46,577
    
$
42,143
  
                                                 
Ratio of earnings to fixed charges
    
5.64
      
6.84
      
10.15
      
12.04
      
9.70
      
9.05