Attached files
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Three Months Ended |
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(In thousands, except ratios) |
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2017 |
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2016 |
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(unaudited) |
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Earnings: |
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Net income |
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$ |
84,937 |
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$ |
92,858 |
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Add: |
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Provision for income taxes |
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48,941 |
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51,133 |
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Fixed charges |
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87,646 |
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77,750 |
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Less: |
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Capitalized interest |
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(11,402) |
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(9,470) |
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Earnings as adjusted (A) |
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$ |
210,122 |
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$ |
212,271 |
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Fixed charges: |
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Interest expense |
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$ |
76,055 |
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$ |
68,121 |
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Capitalized interest |
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11,402 |
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9,470 |
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Interest factors of rents (1) |
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189 |
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159 |
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Fixed charges as adjusted (B) |
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$ |
87,646 |
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$ |
77,750 |
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Ratio of earnings to fixed charges ((A) divided by (B)) |
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2.40 |
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2.73 |
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(1) |
Estimated to be 1/3 of rent expense. |