Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||
| 2009 | 2008 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||||
| Income from continuing operations before undistributed earnings of equity method investments, amortization of capitalized interest and taxes | $ | 25.9 | 50.1 | (516.0 | ) | 183.4 | 191.8 | 186.7 | 176.5 | |||||||||||||||||||
| Less undistributed earnings of equity method investments | (0.7 | ) | (1.4 | ) | (16.5 | ) | (4.1 | ) | (8.2 | ) | (4.3 | ) | (5.8 | ) | ||||||||||||||
| Plus distributed earnings of equity method investments | 20.7 | 0.8 | 3.5 | 6.2 | 0.3 | — | 1.3 | |||||||||||||||||||||
| Plus amortization of capitalized interest | $ | 0.2 | 0.2 | 0.8 | 0.6 | 0.5 | 0.3 | 0.2 | ||||||||||||||||||||
| $ | 46.1 | 49.7 | (528.2 | ) | 186.1 | 184.4 | 182.7 | 172.2 | ||||||||||||||||||||
| Plus: | ||||||||||||||||||||||||||||
| Fixed charges: | ||||||||||||||||||||||||||||
| Other interest expense (includes amortization of deferred financing costs) | $ | 14.5 | 11.9 | 54.4 | 55.5 | 48.4 | 48.6 | 42.4 | ||||||||||||||||||||
| Debt discount amortization | $ | 3.6 | 3.5 | 14.0 | 13.0 | 11.1 | — | — | ||||||||||||||||||||
| Floor plan interest expense | $ | 9.5 | 17.0 | 64.5 | 73.4 | 58.5 | 45.5 | 40.8 | ||||||||||||||||||||
| Capitalized interest | $ | 0.6 | 1.4 | 4.8 | 5.5 | 7.1 | 4.0 | 2.9 | ||||||||||||||||||||
| Interest factor in rental expense | $ | 13.1 | 13.2 | 52.8 | 49.7 | 43.2 | 34.8 | 27.4 | ||||||||||||||||||||
| Total fixed charges | $ | 41.3 | 47.0 | 190.5 | 197.1 | 168.3 | 132.9 | 113.5 | ||||||||||||||||||||
| Less: | ||||||||||||||||||||||||||||
| Capitalized interest | $ | 0.6 | 1.4 | 4.8 | 5.5 | 7.1 | 4.0 | 2.9 | ||||||||||||||||||||
| Earnings | $ | 86.8 | 95.3 | (342.5 | ) | 377.7 | 345.6 | 311.6 | 282.8 | |||||||||||||||||||
Ratio of earnings to fixed charges | 2.1 | 2.0 | (1.8 | ) | 1.9 | 2.1 | 2.3 | 2.5 | ||||||||||||||||||||