- Track your favorite companies
- Receive email alerts for new filings
- Personalized dashboard of news and more
- Access all data and search results
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Good
|
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
|
| Year Ended December 31, |
| ||||||||
|
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 |
|
Income from continuing operations before income taxes |
| 462.0 |
| 374.2 |
| 290.8 |
| 244.8 |
| 184.7 |
|
Less undistributed earnings of equity method investments |
| (40.8 | ) | (30.7 | ) | (27.6 | ) | (25.5 | ) | (20.6 | ) |
Plus distributed earnings of equity method investments |
| 15.5 |
| 10.8 |
| 23.6 |
| 9.2 |
| 9.9 |
|
Plus amortization of capitalized interest |
| 0.8 |
| 0.8 |
| 0.8 |
| 0.8 |
| 0.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations before undistributed earnings of equity method investments, amortization of capitalized interest, and taxes |
| 437.5 |
| 355.1 |
| 287.6 |
| 229.3 |
| 174.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Plus: |
|
|
|
|
|
|
|
|
|
|
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
Other interest expense (includes amortization of deferred financing costs) |
| 52.8 |
| 45.2 |
| 46.1 |
| 44.0 |
| 48.4 |
|
Debt discount amortization |
| — |
| — |
| — |
| 1.7 |
| 8.6 |
|
Floor plan interest expense |
| 46.1 |
| 43.1 |
| 38.0 |
| 26.6 |
| 32.4 |
|
Capitalized interest |
| 0.8 |
| 0.7 |
| 0.6 |
| 0.7 |
| 0.5 |
|
Interest factor in rental expense |
| 62.8 |
| 57.0 |
| 55.4 |
| 53.1 |
| 50.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total fixed charges |
| 162.5 |
| 146.0 |
| 140.1 |
| 126.1 |
| 140.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
Capitalized interest |
| 0.8 |
| 0.7 |
| 0.6 |
| 0.7 |
| 0.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings |
| 599.2 |
| 500.4 |
| 427.1 |
| 354.7 |
| 314.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
| 3.7 |
| 3.4 |
| 3.0 |
| 2.8 |
| 2.2 |
|