SONIC AUTOMOTIVE, INC. AND SUBSIDIARIES

RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

 

     Three Months Ended
March 31,		                                
(In thousands)    2012     2011     2011     2010     2009     2008     2007  

Fixed charges:

               

Interest expense, excluding floor plan interest

    $ 17,423      $ 17,798      $ 71,255      $ 79,032      $ 92,897      $ 72,417      $ 47,330   

Capitalized interest

      31        604        2,290        2,330        702        1,543        2,463   

Rent expense (interest factor)

      6,896        7,125        29,771        30,738        31,290        31,380        31,753   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

      24,350        25,527        103,316        112,100        124,889        105,340        81,546   

Income from continuing operations before income taxes and cumulative effect of change in accounting principle

      32,175        26,141        125,101        78,042        27,655        (756,917 )      169,404   

Add: Fixed charges

      24,350        25,527        103,316        112,100        124,889        105,340        81,546   

Less: Capitalized interest

      (31 )      (604 )      (2,290 )      (2,330 )      (702 )      (1,543 )      (2,463 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income from continuing operations before income taxes and cumulative effect of change in accounting principle & fixed charges

    $ 56,494      $ 51,064      $ 226,127      $ 187,812      $ 151,842      $ (653,120 )    $ 248,487   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      2.3 x        2.0 x        2.2 x        1.7 x        1.2 x      $ (758,460 )(1)      3.0 x   

 

(1) Reflects deficiency of earnings available to cover fixed charges. Because of the deficiency, ratio information is not provided.