RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
The following table reflects the computation of the ratio of
earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends for the periods presented:



























Year Ended December 31,



Nine Months Ended September
30, 2017




2012



2013



2014



2015



2016



Ratio of earnings to fixed charges(1) 


2.32x 



1.89x 



2.11x 



1.99x 



2.11x 



2.39x 

Ratio of earnings to combined fixed charges and preferred stock dividends(2) 


2.32x 



1.89x 



2.05x 



1.80x 



1.91x 



2.20x 

(1) 

For the purposes of this calculation, “earnings” consists of income from continuing operations before income taxes and income on equity method investments, as
well as fixed charges (excluding interest capitalized and amortization of interest capitalized). “Fixed charges” consists of interest expensed and capitalized, amortization of debt discounts, premiums and related issuance costs and the
component of rental expense associated with operating leases believed by management to be representative of the interest factor thereon. 
(2) 

We had no preferred stock outstanding for the years ended December 31, 2012 and 2013; therefore, the ratio of earnings to combined fixed charges and preferred
stock dividends is the same as the ratio of earnings to fixed charges. 