Exhibit 12.1
CARDTRONICS, INC. AND SUBSIDIARIES
RATIOS OF EARNINGS TO FIXED CHARGES
(in thousands)
RATIOS OF EARNINGS TO FIXED CHARGES
(in thousands)
Years Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
EARNINGS: | ||||||||||||||||||||
Income (loss) before income taxes and cumulative effect of accounting changes | $ | 9,522 | $ | (70,386 | ) | $ | (23,004 | ) | $ | (244 | ) | $ | (3,673 | ) | ||||||
Fixed charges (as outlined below), less preferred dividends(a) | 34,624 | 35,614 | 33,079 | 26,914 | 20,202 | |||||||||||||||
Total earnings, as defined | $ | 44,146 | $ | (34,772 | ) | $ | 10,075 | $ | 26,670 | $ | 16,529 | |||||||||
FIXED CHARGES: | ||||||||||||||||||||
Interest charges(b) | $ | 32,528 | $ | 33,197 | $ | 31,164 | $ | 25,072 | $ | 22,426 | ||||||||||
Less: Write-off of unamortized debt issuance costs(c) | — | — | — | (534 | ) | (5,038 | ) | |||||||||||||
Plus: Interest component of rental expense | 2,096 | 2,417 | 1,915 | 2,376 | 2,814 | |||||||||||||||
Plus: Total fixed charges, as defined | — | — | — | — | 1,770 | |||||||||||||||
Plus: Preferred dividends(d) | $ | 34,624 | $ | 35,614 | $ | 33,079 | $ | 26,914 | $ | 21,972 | ||||||||||
Ratio of earnings to fixed charges | 1.3 | x | N/A | N/A | N/A | N/A | ||||||||||||||
Amount of earnings insufficient to cover fixed charges | $ | — | $ | 70,386 | $ | 23,004 | $ | 244 | $ | 5,443 |
(a) | Excludes preferred dividends as such amounts were not deducted in arriving at the income (loss) before income taxes and cumulative effect of accounts changes amounts reflected above. | |
(b) | Includes the amortization of debt discounts and the amortization and write-off of debt issuance costs. | |
(c) | Amounts included in the interest charges line above. As such, it is backed out separately from the computation of fixed charges. | |
(d) | Amounts have been grossed-up at the Company’s effective tax rate for each applicable period. |