Exhibit 12.1
SONIC AUTOMOTIVE, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
| Year Ended December 31, | Three Months Ended March 31, |
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| 2016 | 2015 | 2014 | 2013 | 2012 | 2017 | 2016 | ||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||||||
| Fixed charges: |
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| Interest expense, including floor plan interest (1) |
$ | 78,694 | $ | 73,539 | $ | 73,805 | $ | 79,842 | $ | 83,626 | $ | 21,948 | $ | 19,040 | ||||||||||||||
| Capitalized interest |
2,750 | 1,912 | 1,921 | 2,484 | 1,198 | 459 | 636 | |||||||||||||||||||||
| Rent expense (interest factor) |
24,634 | 24,514 | 24,569 | 24,659 | 25,495 | 6,162 | 6,240 | |||||||||||||||||||||
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| Total fixed charges |
106,078 | 99,965 | 100,295 | 106,985 | 110,319 | 28,569 | 25,916 | |||||||||||||||||||||
| Income from continuing operations before income taxes and cumulative effect of change in accounting principle |
155,212 | 145,156 | 161,727 | 129,021 | 141,233 | 152 | 23,634 | |||||||||||||||||||||
| Add: Fixed charges |
106,078 | 99,965 | 100,295 | 106,985 | 110,319 | 28,569 | 25,916 | |||||||||||||||||||||
| Less: Capitalized interest |
(2,750 | ) | (1,912 | ) | (1,921 | ) | (2,484 | ) | (1,198 | ) | (459 | ) | (636 | ) | ||||||||||||||
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| Income from continuing operations before income taxes and cumulative effect of change in accounting principle & fixed charges |
$ | 258,540 | $ | 243,209 | $ | 260,101 | $ | 233,522 | $ | 250,354 | $ | 28,262 | $ | 48,914 | ||||||||||||||
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| Ratio of earnings to fixed charges |
2.4 | x | 2.4 | x | 2.6 | x | 2.2 | x | 2.3 | x | 1.0 | x | 1.9 | x | ||||||||||||||
| (1) | Includes interest expense associated with discontinued operations. |