EX-12
Published on February 26, 2015
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
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Year Ended |
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2014 |
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2013 |
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2012 |
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2011 |
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2010 |
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Income from continuing operations |
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$ |
73,399 |
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$ |
55,405 |
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$ |
50,306 |
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$ |
48,620 |
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$ |
44,851 |
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Fixed charges |
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14,634 |
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12,296 |
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10,098 |
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6,670 |
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2,961 |
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Capitalized interest |
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(1,506) |
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(932) |
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(130) |
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(45) |
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(117) |
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Income allocated to non-controlling interests |
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- |
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- |
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(37) |
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(191) |
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(191) |
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Earnings |
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$ |
86,527 |
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$ |
66,769 |
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$ |
60,237 |
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$ |
55,054 |
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$ |
47,504 |
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Fixed Charges |
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Interest expense (includes amortization of debt issue costs and capitalized interest) |
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13,128 |
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11,364 |
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9,931 |
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6,434 |
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2,653 |
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Capitalized Interest |
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1,506 |
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932 |
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130 |
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45 |
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117 |
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Income allocated to non-controlling interests |
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- |
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- |
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37 |
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191 |
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191 |
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Total fixed charges |
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14,634 |
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12,296 |
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10,098 |
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6,670 |
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2,961 |
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Preferred stock dividend (excludes preferred stock redemption charge) |
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3,273 |
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3,273 |
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3,273 |
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5,512 |
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13,662 |
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Total fixed charges and preferred dividends |
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$ |
17,907 |
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$ |
15,569 |
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$ |
13,371 |
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$ |
12,182 |
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$ |
16,623 |
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Ratio of earnings to fixed charges |
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5.91 |
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5.43 |
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5.97 |
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8.25 |
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16.04 |
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Ratio of earnings to fixed charges and preferred dividends |
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4.83 |
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4.29 |
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4.51 |
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4.52 |
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2.86 |
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