EX-12.1 2 ryderex121-q32017.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, 2017
 
 
 
 
EARNINGS:
 
 
Earnings before income taxes
 
234,991

Fixed charges
 
136,567

Add: Amortization of capitalized interest
 
460

Less: Interest capitalized
 
—

Earnings available for fixed charges (A)
 
372,018

 
 
 
FIXED CHARGES:
 
 
Interest and other financial charges
 
104,591

Portion of rents representing interest expense
 
31,976

Total fixed charges (B)
 
136,567

 
 
 
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B)
 
2.72x