For the twelve months ended December 31, | ||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
(Dollars in millions) | ||||||||||||||||||||
Pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees | $ | 733.9 | $ | 720.6 | $ | 631.7 | $ | 566.1 | $ | 523.5 | ||||||||||
Add: Fixed charges (from below) | 106.1 | 103.9 | 72.7 | 76.6 | 78.6 | |||||||||||||||
Add: Amortization of capitalized interest | 2.1 | 0.8 | 0.5 | 0.4 | 0.4 | |||||||||||||||
Add: Distributed income of equity investee | 15.0 | 6.2 | 7.0 | 7.7 | 4.0 | |||||||||||||||
Subtract: Capitalized interest expense | 1.8 | 2.1 | 0.8 | 0.5 | 0.3 | |||||||||||||||
Total earnings | $ | 855.3 | $ | 829.4 | $ | 711.1 | $ | 650.3 | $ | 606.2 | ||||||||||
Interest expense (including amortization of debt issuance costs, debt discounts and premiums) | $ | 92.8 | $ | 92.1 | $ | 63.8 | $ | 68.6 | $ | 70.2 | ||||||||||
Capitalized interest expense | 1.8 | 2.1 | 0.8 | 0.5 | 0.3 | |||||||||||||||
Portion of rentals representing interest | 11.5 | 9.7 | 8.1 | 7.5 | 8.1 | |||||||||||||||
Total fixed charges | $ | 106.1 | $ | 103.9 | $ | 72.7 | $ | 76.6 | $ | 78.6 | ||||||||||
Ratio of earnings to fixed charges | 8.1x | 8.0x | 9.8x | 8.5x | 7.7x | |||||||||||||||