EX-12.1 2 ryderex121-q22017.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 six months ended June 30, 2017
EARNINGS: |  |
Earnings before income taxes |  | 140,648 |
Fixed charges |  | 90,779 |
Add: Amortization of capitalized interest |  | 290 |
Less: Interest capitalized |  | — |
Earnings available for fixed charges (A) |  | 231,717 |
FIXED CHARGES: |  |
Interest and other financial charges |  | 69,738 |
Portion of rents representing interest expense |  | 21,041 |
Total fixed charges (B) |  | 90,779 |
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B) |  | 2.55x |