EX-12.1 2 ryderex121-q32015.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1
Ryder System, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
Continuing Operations
(Dollars in thousands)
 
 
 
 
 
 
For the Nine Months Ended September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EARNINGS:
 
 
 
 
 
 
 
Earnings before income taxes
 
 
 
 
 
357,524

 
Fixed charges
 
 
 
 
 
147,682

 
Add: Amortization of capitalized interest
 
 
 
 
 
424

 
Less: Interest capitalized
 
 
 
 
 
—

 
Earnings available for fixed charges (A)
 
 
 
 
 
505,630

 
 
 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
 
Interest and other financial charges
 
 
 
 
 
115,131

 
Portion of rents representing interest expense
 
 
 
 
 
32,551

 
Total fixed charges (B)
 
 
 
 
 
147,682

 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B)
 
 
 
 
 
3.42x