SONIC AUTOMOTIVE, INC. AND SUBSIDIARIES

RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

 

    Six Months Ended
June 30,		     Year Ended December 31,  
(In thousands)   2012     2011     2011     2010     2009     2008     2007  

Fixed charges:

              

Interest expense, excluding floor plan interest

   $ 32,181      $ 36,200      $ 71,255      $ 79,032      $ 92,897      $ 72,417      $ 47,330   

Capitalized interest

     162        1,422        2,290        2,330        702        1,543        2,463   

Rent expense (interest factor)

     13,823        15,343        29,771        30,738        31,290        31,380        31,753   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

     46,166        52,965        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

              
    70,355        62,826        125,101        78,042        27,655        (756,917 )      169,404   

Add: Fixed charges

     46,166        52,965        103,316        112,100        124,889        105,340        81,546   

Less: Capitalized interest

     (162 )      (1,422 )      (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

   $ 116,359      $ 114,369      $ 226,127      $ 187,812      $ 151,842      $ (653,120 )    $ 248,487   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

     2.5 x        2.2 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 for the year ended December 31, 2008. Because of this deficiency, ratio information is not provided.