Year Ended December 31, | |||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||
Ratio of earnings to fixed charges (1) | 3.00x | 1.92x | 1.61x | 1.59x | 2.72x | ||||
(1) | The term “fixed charges” means the sum of (a) interest expensed and capitalized, (b) amortized premiums, discounts and capitalized expenses related to indebtedness, and (c) portion of rent expense considered to be interest. The term “earnings” means the sum of (a) pre-tax income from continuing operations and (b) fixed charges. |