EX-12.1 4 d220944dex121.htm EX-12.1

EX-12.1

Exhibit 12.1

GATX Corporation and Subsidiaries

Computation of Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(In millions, except for ratios)

		Six Months Ended June 30				Year Ended December 31
		2016				2015				2014				2013				2012				2011
Earnings available for fixed charges:
Income before income taxes and share of affiliates’ earnings		$	174.1			$	270.3			$	231.2			$	159.0			$	143.8			$	107.6
Add:
Dividends from affiliated companies			0.1				32.2				40.0				34.4				35.1				29.2
Total fixed charges			88.8				191.5				206.6				224.1				227.0				232.6
Total earnings available for fixed charges		$	263.0			$	494.0			$	477.8			$	417.5			$	405.9			$	369.4
Fixed charges:
Interest expense		$	74.6			$	156.2			$	159.3			$	167.8			$	168.5			$	169.6
Interest portion of operating lease expense			14.2				35.3				47.3				56.0				58.5				62.9
Preferred dividends on pre-tax basis			—				—				—				0.3				—				0.1
Total fixed charges		$	88.8			$	191.5			$	206.6			$	224.1			$	227.0			$	232.6
Ratio of earnings to fixed charges			2.96				2.58				2.31				1.86				1.79				1.59