SONIC AUTOMOTIVE, INC. AND SUBSIDIARIES

RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

 

     Year Ended December 31,  

(In thousands)

    2013     2012     2011     2010     2009  

Fixed charges:

           

Interest expense, including floor plan interest (1)

    $ 79,842     $ 83,626     $ 90,894     $ 100,990     $ 114,221   

Capitalized interest

      2,484       1,198       2,290       2,330       702   

Rent expense (interest factor)

      24,659       25,495       27,942       28,962       29,541   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

      106,985       110,319       121,126       132,282       144,464   

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

      129,021       141,233       133,262       83,092       32,537   

Add: Fixed charges

      106,985       110,319       121,126       132,282       144,464   

Less: Capitalized interest

      (2,484 )     (1,198 )     (2,290 )     (2,330 )     (702 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

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

    $ 233,522     $ 250,354     $ 252,098     $ 213,044     $ 176,299   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      2.2 x        2.3 x        2.1 x        1.6 x        1.2 x   

 

(1) Includes interest expense associated with discontinued operations.