EX-12.1 2 ryderex121-q32017.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 nine months ended September 30, 2017
EARNINGS: |  |
Earnings before income taxes |  | 234,991 |
Fixed charges |  | 136,567 |
Add: Amortization of capitalized interest |  | 460 |
Less: Interest capitalized |  | — |
Earnings available for fixed charges (A) |  | 372,018 |
FIXED CHARGES: |  |
Interest and other financial charges |  | 104,591 |
Portion of rents representing interest expense |  | 31,976 |
Total fixed charges (B) |  | 136,567 |
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B) |  | 2.72x |