EX-12.1 2 ryderex121-q32014.htm 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, 2014 |  |
EARNINGS: |  |  |  |  |  |  |
Earnings before income taxes |  |  |  |  | 324,770 |  |  |
Fixed charges |  |  |  |  | 142,992 |  |  |
Add: Amortization of capitalized interest |  |  |  |  | 379 |  |  |
Less: Interest capitalized |  |  |  |  | 0 |  |  |
Earnings available for fixed charges (A) |  |  |  |  | 468,141 |  |  |
FIXED CHARGES: |  |  |  |  |  |  |
Interest and other financial charges |  |  |  |  | 106,462 |  |  |
Costs associated with sale of receivables |  |  |  |  | 0 |  |  |
Portion of rents representing interest expense |  |  |  |  | 36,530 |  |  |
Total fixed charges (B) |  |  |  |  | 142,992 |  |  |
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B) |  |  |  |  | 3.27 |  |  |