EX-12.1 7 ryderex121-q12017.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, 2017
 
 
 
 
EARNINGS:
 
 
Earnings before income taxes
 
$
59,956

Fixed charges
 
45,715

Add: Amortization of capitalized interest
 
148

Less: Interest capitalized
 
—

Earnings available for fixed charges (A)
 
$
105,819

 
 
 
FIXED CHARGES:
 
 
Interest and other financial charges
 
$
34,886

Portion of rents representing interest expense
 
10,829

Total fixed charges (B)
 
$
45,715

 
 
 
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B)
 
2.31x