EX-12.1 5 exhibit121-computationofra.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

CINTAS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in Thousands)

 
Six months ended November 30,
 
Year Ended May 31,
 
2016
 
2016
 
2015
 
2014
 
2013
 
2012
Net income before
   income taxes
$
382,476

 
$
718,122

 
$
653,324

 
$
537,127

 
$
484,065

 
$
444,982

Capitalized interest
1,900

 
1,079

 
639

 
—

 
—

 
1,298

Fixed charges
31,012

 
68,712

 
68,415

 
68,247

 
68,015

 
74,399

Earnings
$
415,388

 
$
787,913

 
$
722,378

 
$
605,374

 
$
552,080

 
$
520,679

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest component
   of rent expense
$
1,673

 
$
3,111

 
$
2,615

 
$
2,425

 
$
2,303

 
$
2,476

Interest expense
27,439

 
64,522

 
65,161

 
65,822

 
65,712

 
70,625

Capitalized interest
1,900

 
1,079

 
639

 
—

 
—

 
1,298

 
$
31,012

 
$
68,712

 
$
68,415

 
$
68,247

 
$
68,015

 
$
74,399

 
 
 
 
 

 
 
 
 
 
 
Ratio of earnings
   to fixed charges
13.4

 
11.5

 
10.6

 
8.9

 
8.1

 
7.0