STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In millions) | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | |||||||||||||||
Computation of Earnings: | |||||||||||||||||||
Pre-tax earnings (loss) from continuing operations, excluding equity in earnings of unconsolidated affiliates | $ | 300.0 | $ | 287.2 | $ | 479.8 | $ | 174.5 | $ | (53.1 | ) | ||||||||
Plus: Fixed charges | 32.5 | 87.0 | 125.8 | 147.0 | 237.4 | ||||||||||||||
Plus: Amortization of capitalized interest | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | ||||||||||||||
Plus: Distributed earnings from equity investees | 3.1 | 3.6 | 6.9 | 17.5 | 23.8 | ||||||||||||||
Earnings | $ | 335.7 | $ | 377.9 | $ | 612.6 | $ | 339.1 | $ | 208.2 | |||||||||
Fixed Charges: | |||||||||||||||||||
Interest expense and amortization of deferred financing costs on all indebtedness | $ | 29.5 | $ | 83.3 | $ | 121.5 | $ | 142.4 | $ | 231.1 | |||||||||
Estimate of interest component of rental expenses | 3.0 | 3.7 | 4.3 | 4.6 | 6.3 | ||||||||||||||
Fixed charges | 32.5 | 87.0 | 125.8 | 147.0 | 237.4 | ||||||||||||||
Preferred distributions | — | 7.5 | 15.1 | 15.1 | 7.5 | ||||||||||||||
Total combined fixed charges and preferred distributions | $ | 32.5 | $ | 94.5 | $ | 140.9 | $ | 162.1 | $ | 244.9 | |||||||||
Ratio of earnings to fixed charges | 10.3x | 4.0x | 4.3x | 2.1x | 0.9x | ||||||||||||||