Exhibit 12.1
CARDTRONICS, INC. AND SUBSIDIARIES
RATIOS OF EARNINGS TO FIXED CHARGES
(in thousands)
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| Years ended December 31, |
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| 2011 |
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| 2010 |
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| 2009 |
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| 2008 |
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| 2007 |
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EARNINGS: |
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Income (loss) before income taxes and cumulative effect of accounting changes |
| $ | 57,057 |
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| $ | 23,820 |
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| $ | 9,522 |
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| $ | (70,386 | ) |
| $ | (23,004 | ) |
Fixed charges (as outlined below), less preferred dividends (a) |
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| 23,181 |
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| 30,528 |
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| 34,624 |
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| 35,614 |
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| 33,079 |
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Total earnings, as defined |
| $ | 80,238 |
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| $ | 54,348 |
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| $ | 44,146 |
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| $ | (34,772 | ) |
| $ | 10,075 |
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FIXED CHARGES: |
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Interest charges (b) |
| $ | 21,109 |
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| $ | 35,954 |
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| $ | 32,528 |
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| $ | 33,197 |
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| $ | 31,164 |
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Less: Write-off unamortized debt issuance costs (c) |
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| — |
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| (7,296 | ) |
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| — |
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| — |
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| — |
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Interest component of vault cash costs |
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| — |
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| — |
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| — |
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| — |
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| — |
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Interest component of rental expense |
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| 2,072 |
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| 1,870 |
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| 2,096 |
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| 2,417 |
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| 1,915 |
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Preferred dividends (d) |
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| — |
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| — |
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| — |
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| — |
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| — |
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Total fixed charges, as defined |
| $ | 23,181 |
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| $ | 30,528 |
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| $ | 34,624 |
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| $ | 35,614 |
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| $ | 33,079 |
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Ratio of earnings to fixed charges |
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| 3.46 | x |
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| 1.78 | x |
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| 1.28 | x |
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| N/A |
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| N/A |
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Amount of earnings insufficient to cover fixed charges |
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| — |
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| — |
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| $ | 70,386 |
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| $ | 23,004 |
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(a) Excludes preferred dividends as such amounts were not deducted in arriving at the income (loss) before income tax amounts reflected above. |
(b) Includes the amortization of debt discount and debt issuance costs. |
(c) Amounts included in interest charges line item 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. |