Attached files
file | filename |
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EX-99.1 - EXHIBIT 99.1 - VECTOR GROUP LTD | a2017q1ex991.htm |
EX-32.2 - EXHIBIT 32.2 - VECTOR GROUP LTD | a2017q1-ex322.htm |
EX-32.1 - EXHIBIT 32.1 - VECTOR GROUP LTD | a2017q1-ex321.htm |
EX-31.2 - EXHIBIT 31.2 - VECTOR GROUP LTD | a2017q1-ex312.htm |
EX-31.1 - EXHIBIT 31.1 - VECTOR GROUP LTD | a2017q1ex311.htm |
EX-10.4 - EXHIBIT 10.4 - VECTOR GROUP LTD | q117ex104.htm |
EX-10.3 - EXHIBIT 10.3 - VECTOR GROUP LTD | q117ex103.htm |
EX-10.2 - EXHIBIT 10.2 - VECTOR GROUP LTD | q117ex102.htm |
EX-10.1 - EXHIBIT 10.1 - VECTOR GROUP LTD | q117ex101.htm |
10-Q - 10-Q - VECTOR GROUP LTD | a2017q110q.htm |
Exhibit 12.1
VECTOR GROUP LTD.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands, Except Ratios)
(Unaudited)
Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||
2017 | 2016 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Earnings as defined: | ||||||||||||||||||||||||||
Pre-tax (loss) income | $ | (7,007 | ) | $ | 35,756 | $ | 126,429 | $ | 107,705 | $ | 82,279 | $ | 60,720 | 53,806 | ||||||||||||
Distributions from investees | 7,243 | 931 | 24,793 | 7,152 | 6,568 | 6,262 | 21,467 | |||||||||||||||||||
Interest expense | 37,650 | 21,026 | 111,272 | 96,236 | 146,787 | 147,084 | 132,538 | |||||||||||||||||||
(Income) loss in equity of affiliate | (10,052 | ) | 2,178 | (2,446 | ) | 680 | (7,243 | ) | (26,051 | ) | (30,028 | ) | ||||||||||||||
Interest portion of rental expense (1) | 2,575 | 2,059 | 9,079 | 8,149 | 7,505 | 2,174 | 1,367 | |||||||||||||||||||
Total earnings | $ | 30,409 | $ | 61,950 | $ | 269,127 | $ | 219,922 | $ | 235,896 | $ | 190,189 | 179,150 | |||||||||||||
Fixed charges as defined: | ||||||||||||||||||||||||||
Interest expense | $ | 37,650 | $ | 21,026 | $ | 111,272 | $ | 96,236 | $ | 146,787 | $ | 147,084 | 132,538 | |||||||||||||
Interest portion of rent expense (1) | 2,575 | 2,059 | 9,079 | 8,149 | 7,505 | 2,174 | 1,367 | |||||||||||||||||||
Total fixed charges | $ | 40,225 | $ | 23,085 | $ | 120,351 | $ | 104,385 | $ | 154,292 | $ | 149,258 | 133,905 | |||||||||||||
Ratio of earnings to fixed charges | 0.76 | 2.68 | 2.24 | 2.11 | 1.53 | 1.27 | 1.34 |
________________________
(1) One third of rent expense is the portion deemed representative of the interest factor.