Year Ended December 31,

2014

2013

2012

2011

2010

(in thousands, except ratios)

Pretax income from continuing operations

$

1,064,699

$

278,611

$

(83,517

)

$

339,001

$

314,896

Add: Fixed charges

117,147

102,758

77,841

58,030

29,558

Add: Amortization of capitalized interest

11,448

11,784

9,095

5,107

2,991

Less: Capitalized interest

(16,165

)

(10,952

)

(12,135

)

(10,785

)

(4,337

)

Earnings before fixed charges

$

1,177,129

$

382,201

$

(8,716

)

$

391,353

$

343,108

Fixed charges:

Interest expense (1)

$

98,554

$

89,711

$

63,720

$

45,849

$

24,196

Capitalized interest

16,165

10,952

12,135

10,785

4,337

Interest expense component of rent (2)

2,428

2,095

1,986

1,396

1,025

Total fixed charges

$

117,147

$

102,758

$

77,841

$

58,030

$

29,558

Ratio of earnings to fixed charges

10.0

3.7

—

6.7

11.6

Insufficient coverage

$

—

$

—

$

86,557

$

—

$

—