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


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