EX-12.1 3 ryderex121-q12016.htm EXHIBIT 12.1
EXHIBIT 12.1

Ryder System, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
Continuing Operations
(Dollars in thousands)
|  |  |  |  |  | For the Three Months Ended March 31, 2016 |
EARNINGS: |  |  |  |  |  |  |
Earnings before income taxes |  |  |  |  |  | $ | 88,708 |  |
Fixed charges |  |  |  |  |  | 48,793 |  |
Add: Amortization of capitalized interest |  |  |  |  |  | 148 |  |
Less: Interest capitalized |  |  |  |  |  | — |  |
Earnings available for fixed charges (A) |  |  |  |  |  | $ | 137,649 |  |
FIXED CHARGES: |  |  |  |  |  |  |
Interest and other financial charges |  |  |  |  |  | $ | 37,964 |  |
Portion of rents representing interest expense |  |  |  |  |  | 10,829 |  |
Total fixed charges (B) |  |  |  |  |  | $ | 48,793 |  |
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B) |  |  |  |  |  | 2.82x |  |