Exhibit 12.1

Ryder System, Inc. and Subsidiaries

Ratio of Earnings to Fixed Charges

Continuing Operations

(Dollars in thousands)

	Years Ended										For the Nine Months Ended
	2007		2008		2009		2010		2011		September 30, 2012
EARNINGS:
Earnings before income taxes		402,204		409,288		143,769		186,305		279,387		221,277
Fixed charges		222,017		220,187		204,465		181,860		183,948		141,590
Add: Amortization of capitalized interest		457		471		620		742		722		550
Less: Interest capitalized		286		1,048		1,361		195		17		12
Earnings available for fixed charges (A)		624,393		628,898		347,493		368,712		464,041		363,406
FIXED CHARGES:
Interest and other financial charges		160,359		158,244		147,801		130,654		133,496		105,577
Costs associated with sale of receivables		0		0		0		0		0		0
Portion of rents representing interest expense		61,658		61,943		56,664		51,206		50,452		36,014
Total fixed charges (B)		222,017		220,187		204,465		181,860		183,948		141,590
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B)		2.81		2.86		1.70		2.03		2.52		2.57