EX-12.1 6 d301678dex121.htm EX-12.1

EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

		Q1				Year Ended December 31,
		2016				2015				2014				2013				2012				2011
		(dollars in thousands)
Fixed Charges
1 Interest expensed and capitalized		$	24,396			$	100,718			$	82,156			$	73,095			$	52,038			$	48,314
2 An estimate of the interest factor in rental expense			1,434				6,225				4,706				5,223				3,836				3,643
Total Fixed Charges		$	25,830			$	106,943			$	86,862			$	78,318			$	55,874			$	51,957
Earnings
1 Pre-tax income from continuing operations		$	16,568			$	39,940			$	81,546			$	127,049			$	5,042			$	118,099
2 Fixed charges			25,830				106,943				86,862				78,318				55,874				51,957
3 Amortization of capitalized interest (less interest capitalized)			10				107				172				336				519				166
Total Earnings		$	42,408			$	146,990			$	168,580			$	205,703			$	61,435			$	170,222
Ratio of Earnings to Fixed Charges			1.6				1.4				1.9				2.6				1.1				3.3