SONIC AUTOMOTIVE, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12.1
| (In thousands) | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense, excluding floor plan interest | $ | 71,255 | $ | 79,032 | $ | 92,897 | $ | 72,417 | $ | 47,330 | ||||||||||
Capitalized interest | 2,290 | 2,330 | 702 | 1,543 | 2,463 | |||||||||||||||
Rent expense (interest factor) | 30,398 | 31,451 | 32,013 | 32,085 | 32,481 | |||||||||||||||
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Total fixed charges | 103,943 | 112,813 | 125,612 | 106,045 | 82,274 | |||||||||||||||
Income from continuing operations before income taxes and cumulative effect of change in accounting principle | 126,029 | 78,421 | 27,892 | (756,117 | ) | 172,137 | ||||||||||||||
Add: Fixed charges | 103,943 | 112,813 | 125,612 | 106,045 | 82,274 | |||||||||||||||
Less: Capitalized interest | (2,290 | ) | (2,330 | ) | (702 | ) | (1,543 | ) | (2,463 | ) | ||||||||||
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Income from continuing operations before income taxes and cumulative effect of change in accounting principle & fixed charges | $ | 227,682 | $ | 188,904 | $ | 152,802 | $ | (651,615 | ) | $ | 251,948 | |||||||||
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Ratio of earnings to fixed charges | 2.2 x | 1.7 x | 1.2 x | (757,660 | )(1) | 3.1 x | ||||||||||||||
| (1) | Reflects deficiency of earnings available to cover fixed charges. Because of the deficiency, ratio information is not provided. |