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Exhibit 12.1

 
  Year Ended December 31,   Three Months
Ended March 31,
 
 
  2012   2013   2014   2015   2016   2016   2017  

Earnings, calculated as follows:

                                           

Add the following:

                                           

Pre-tax income from continuing operations before adjustment for income or loss from equity investees

    44,796     46,473     86,168     56,201     45,374     15,429     14,712  

Fixed Charges

    18,803     17,434     6,217     8,856     11,939     2,155     3,989  

Distributed Income from Equity Investees

                             

Subtotal

    63,599     63,907     92,385     65,057     57,313     17,584     18,701  

Subtract the following:

                                           

Interest Capitalized

    261     421                      

Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges

    3,846     10,717     12,933     17,839     17,173     4,863     5,041  

Subtotal

    4,107     11,138     12,933     17,839     17,173     4,863     5,041  

Total Earnings

    59,493     52,769     79,452     47,219     40,140     12,721     13,661  

Fixed Charges, calculated as follows:

                                           

Add the following:

                                           

Interest expensed and capitalized:

                                           

Expensed

    13,981     12,785     1,208     3,180     5,362     826     2,316  

Capitalized

    261     421                      

Estimate of interest within rental expense

    4,562     4,229     5,009     5,676     6,577     1,329     1,673  

Total Fixed Charges

    18,803     17,434     6,217     8,856     11,939     2,155     3,989  

Ratio of Earnings to Fixed Charges

  x 3.2   x 3.0   x 12.8   x 5.3   x 3.4   x 5.9   x 3.4  



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