Exhibit 12.1
ASBURY AUTOMOTIVE GROUP, INC.
COMPUTATION OF FINANCIAL RATIOS
(in millions, except ratios)
| Ratio of earnings to fixed charges | For the Year Ended December 31, | |||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
EARNINGS COMPUTATION: | ||||||||||||||||||||
Income from continuing operations | $ | 169.4 | $ | 112.0 | $ | 101.1 | $ | 83.3 | $ | 46.5 | ||||||||||
Income tax expense | 104.0 | 71.0 | 64.2 | 50.0 | 28.7 | |||||||||||||||
Fixed charges | 67.3 | 58.1 | 59.4 | 57.9 | 60.1 | |||||||||||||||
Amortization of capitalized interest | 0.3 | 0.3 | 0.2 | 0.2 | 0.2 | |||||||||||||||
Capitalized interest | (0.2 | ) | (0.8 | ) | (1.3 | ) | (0.9 | ) | (0.4 | ) | ||||||||||
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Earnings for purposes of computation | $ | 340.8 | $ | 240.6 | $ | 223.6 | $ | 190.5 | $ | 135.1 | ||||||||||
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FIXED CHARGES COMPUTATION: | ||||||||||||||||||||
Interest expense | $ | 42.7 | $ | 37.6 | $ | 37.5 | $ | 34.4 | $ | 38.1 | ||||||||||
Floor plan interest expense | 14.9 | 11.4 | 11.6 | 10.7 | 8.9 | |||||||||||||||
Amortization of deferred financing fees | 2.6 | 2.4 | 2.4 | 2.5 | 2.7 | |||||||||||||||
Swap interest expense | 3.0 | 2.0 | 2.5 | 5.0 | 5.5 | |||||||||||||||
Interest component of rent expense | 3.9 | 3.9 | 4.1 | 4.4 | 4.5 | |||||||||||||||
Capitalized interest | 0.2 | 0.8 | 1.3 | 0.9 | 0.4 | |||||||||||||||
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Fixed charges for purposes of computation | $ | 67.3 | $ | 58.1 | $ | 59.4 | $ | 57.9 | $ | 60.1 | ||||||||||
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RATIO OF EARNINGS TO FIXED CHARGES | 5.06 | x | 4.14 | x | 3.76 | x | 3.29 | x | 2.25 | x | ||||||||||