Ratio of Earnings to Fixed Charges

 

Year Ended December 31,

(in thousands)

2013

2012

2011

2010

2009

 

Pretax income from continuing operations (1)

$

44,243

$

37,446

$

38,849

$

77,520

$

46,110

 

Fixed charges

    Interest expensed

1,973

2,177

1,719

1,778

1,797

    Debt issuance cost

319

67

135

113

159

Total fixed charges (2)

2,292

2,244

1,854

1,891

1,956

 

Noncontrolling interest in pretax income (3)

876

5,381

6,906

4,154

4,599

Capitalized interest (4)

1,973

2,171

1,713

1,796

1,790

 

Earnings ((1) + (2) -(3) -(4))

43,686

32,138

32,084

73,461

41,677

Fixed charges

2,292

2,244

1,854

1,891

1,956

 

Ratio of earnings to fixed charges

19.1

14.3

17.3

38.8

21.3