EX-12.1 2 d837422dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Statement Re: Computation of Earnings to

Combined Fixed Charges and Preferred Stock Dividends

Amounts in thousands

 

     Year ended December 31,  
     2014     2013     2012     2011     2010  

Earnings:

          

Income from continuing operations before noncontrolling interest in consolidated subsidiaries and income from equity investees

   $ 86,971     $ 69,524     $ 47,185      $ 27,654     $ 30,579  

Add: Income tax expense

     927       936       1,326       1,524       1,131  

Add: Fixed charges

     39,024       32,720       33,547       38,848       32,007  

Add: Distributed income of equity investees

     3,123       2,630       2,184       944       494  

Less: Capitalized interest

     (84     (113     (149     (72     (83

Preferred dividend requirements of consolidated subsidiaries

     —          —          —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings (1)

  129,961     105,697     84,093     68,898     64,128  

Fixed charges:

Interest expense

  33,719     31,166     32,330     37,365     30,681  

Amortization of financing fees

  859     834     836     1,184     1,030  

Capitalized interest

  84     113     149     72     83  

Estimate of interest included in rent expense

  4,362     607     232     227     213  

Preferred stock dividends

  —       —       —       —       —    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges (2)

$ 39,024   $ 32,720   $ 33,547   $ 38,848   $ 32,007  

Ratio of earnings to combined fixed charges and preferred stock dividends (1)/(2)

  3.33     3.23     2.51     1.77     2.00