Year Ended December 31,

2013

2014

2015

2016

2017

Earnings

Pretax income from continuing operations

$

71,363,651

$

73,440,180

$

80,231,110

$

82,118,038

$

99,162,305

Plus fixed charges (see below)

30,219,768

32,091,737

33,742,169

34,311,441

31,936,730

Total earnings (1)

$

101,583,419

$

105,531,917

$

113,973,279

$

116,429,479

$

131,099,035

Fixed Charges

Interest charges

$

26,820,365

$

29,241,350

$

30,817,357

$

31,291,356

$

29,305,659

Amortization of debt expense, premium and discount

1,155,403

1,095,387

1,065,812

1,089,085

1,039,071

Estimated interest component of operating leases

2,244,000

1,755,000

1,859,000

1,931,000

1,592,000

Total fixed charges (2)

$

30,219,768

$

32,091,737

$

33,742,169

$

34,311,441

$

31,936,730

Preferred Dividend Requirement*

$

650,239

$

—

$

—

$

—

$

—

Total Fixed Charges and Preferred Dividend Requirement (3)

$

30,870,007

$

32,091,737

$

33,742,169

$

34,311,441

$

31,936,730

Ratio of Earnings to Fixed Charges

(1) Divided by (2)

3.36

3.29

3.38

3.39

4.10

Ratio of Earnings to Fixed Charges and Preferred Dividends

(1) Divided by (3)

3.29

3.29

3.38

3.39

4.10