EX-12.1 2 ryderex121-q12018.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, 2018
 
 
 
 
EARNINGS:
 
 
Earnings before income taxes
 
$
48,100

Fixed charges
 
48,244

Add: Amortization of capitalized interest
 
192

Less: Interest capitalized
 
—

Earnings available for fixed charges (A)
 
$
96,536

 
 
 
FIXED CHARGES:
 
 
Interest and other financial charges
 
$
37,781

Portion of rents representing interest expense
 
10,463

Total fixed charges (B)
 
$
48,244

 
 
 
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B)
 
2.00