Exhibit 12.1
SONIC AUTOMOTIVE, INC. AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
| (dollars in thousands) |
Three Months Ended March 31, |
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| 2004 | 2005 | 2006 | 2007 | 2008 | 2008 | 2009 | ||||||||||||||||||||||
| Fixed charges: |
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| Interest expense, other & FSP APB 14-1 interest |
$ | 38,668 | $ | 42,544 | $ | 43,734 | $ | 44,799 | $ | 63,703 | $ | 13,304 | $ | 17,376 | ||||||||||||||
| Capitalized interest |
2,795 | 2,328 | 3,651 | 2,463 | 1,543 | 542 | 418 | |||||||||||||||||||||
| Rent expense (interest factor) |
18,610 | 22,403 | 27,927 | 28,613 | 28,420 | 7,180 | 6,990 | |||||||||||||||||||||
| Total fixed charges |
60,073 | 67,275 | 75,312 | 75,875 | 93,666 | 21,026 | 24,784 | |||||||||||||||||||||
| Income from continuing operations before income taxes and cumulative effect of change in accounting principle |
104,622 | 130,655 | 117,685 | 153,431 | (774,248 | ) | 23,228 | 7,249 | ||||||||||||||||||||
| Add: Fixed charges |
60,073 | 67,275 | 75,312 | 75,875 | 93,666 | 21,026 | 24,784 | |||||||||||||||||||||
| Less: Capitalized interest |
(2,795 | ) | (2,328 | ) | (3,651 | ) | (2,463 | ) | (1,543 | ) | (542 | ) | (418 | ) | ||||||||||||||
| Income from continuing operations before income taxes and cumulative effect of change in accounting principle & fixed charges |
$ | 161,900 | $ | 195,602 | $ | 189,346 | $ | 226,843 | $ | (682,125 | ) | $ | 43,712 | $ | 31,615 | |||||||||||||
| Ratio of earnings to fixed charges |
2.7 | x | 2.9 | x | 2.5 | x | 3.0 | x | $ | (775,791 | ) | 2.1 | x | 1.3 | x | |||||||||||||