December 31, 2016 | December 31, 2015 | December 31, 2014 | December 31, 2013 | December 31, 2012 | |||||||||||
Earnings as defined in item 503(d) of Regulation S-K: | |||||||||||||||
Add: | |||||||||||||||
Pretax income from continuing operations(1)(2) | $ | 167,282,766 | $ | 400,022,618 | $ | 391,832,675 | $ | 382,318,903 | $ | 333,308,059 | |||||
Fixed Charges | 126,300,714 | 106,114,018 | 65,365,429 | 44,984,288 | 32,043,502 | ||||||||||
Amortization of capitalized interest(3) | — | — | — | — | — | ||||||||||
Distributed income of equity investees | 61,503,827 | 57,243,010 | 37,800,000 | 32,125,000 | 34,850,000 | ||||||||||
Share of pre-tax losses of equity investees for which charges arising guarantees are included in fixed charges | — | — | — | — | — | ||||||||||
Deduct: | |||||||||||||||
Interest capitalized(3) | — | — | — | — | — | ||||||||||
Preference security dividend requirements of consolidated subsidiaries(4) | — | — | — | — | — | ||||||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | — | — | — | — | — | ||||||||||
$ | 355,087,307 | $ | 563,379,646 | $ | 494,998,104 | $ | 459,428,191 | $ | 400,201,561 | ||||||
Fixed charges as defined in item 503(d) of Regulation S-K: | |||||||||||||||
Interest on long-term debt | $ | 113,092,137 | $ | 98,527,286 | $ | 61,560,284 | $ | 40,611,359 | $ | 26,060,109 | |||||
Other interest | 2,980,553 | 4,467,154 | 3,805,145 | 4,372,929 | 5,983,393 | ||||||||||
Capitalized interest during period(3) | — | — | — | — | |||||||||||
Amortization of premium, reacquisition premium, discount and expense on debt, net | 10,228,024 | 3,119,578 | — | — | — | ||||||||||
Interest portion of rent expense | — | — | — | — | — | ||||||||||
Non-controlling interest | — | — | — | — | — | ||||||||||
$ | 126,300,714 | $ | 106,114,018 | $ | 65,365,429 | $ | 44,984,288 | $ | 32,043,502 | ||||||
Plus preferred stock dividends: | |||||||||||||||
Preferred dividend requirements of subsidiary | — | — | — | — | — | ||||||||||
Preferred dividend requirements factor | 0.66 | 0.67 | 0.61 | 0.65 | 0.62 | ||||||||||
Preference security dividend requirements of consolidated subsidiaries(4) | — | — | — | — | — | ||||||||||
Fixed charges | 126,300,714 | 106,114,018 | 65,365,429 | 44,984,288 | 32,043,502 | ||||||||||
$ | 126,300,714 | $ | 106,114,018 | $ | 65,365,429 | $ | 44,984,288 | $ | 32,043,502 | ||||||
Ratio of earnings to fixed charges | 2.81 | 5.31 | 7.57 | 10.21 | 12.49 | ||||||||||