EX-12.1 4 exhibit121.htm EXHIBIT 12.1

Exhibit

Earnings to Fixed Charges																	Exhibit 12
	First Quarter				Year Ended December 31,
	2018				2017			2016			2015			2014			2013
($ in Thousands)
Earnings:
Pre-tax income from continuing operations		$19,931			261,968			219,955			232,692			197,131			143,802
Income (loss) income from equity investees	1,561				12,865			2,940			(1,890	)		13,580			15,208
Pre-tax income from continuing operations before income (loss) from equity investees	18,370				249,103			217,015			234,582			183,551			128,594
Fixed charges:
Interest expense	6,152				24,354			22,771			22,428			23,063			26,361
Portion of rents representative of interest factor	971				3,542			4,091			4,234			4,276			4,011
Total fixed charges	7,123				27,896			26,862			26,662			27,339			30,372
Distributed income of equity investees	2,027				8,057			3,259			3,687			12,163			14,342
Income, as adjusted		$27,520			285,056			247,136			264,931			223,053			173,308
Ratio of earnings to fixed charges	3.9x				10.2x			9.2x			9.9x			8.2x			5.7x