CARDTRONICS, INC. AND SUBSIDIARIES
RATIOS OF EARNINGS TO FIXED CHARGES
(in thousands)
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| Years ended December 31, |
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| 2014 |
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| 2013 |
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| 2012 |
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| 2011 |
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| 2010 |
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EARNINGS: |
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Income before income taxes and cumulative effect of accounting changes (a) |
| $ | 65,314 |
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| $ | 65,834 |
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| $ | 70,600 |
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| $ | 57,057 |
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| $ | 23,820 |
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Fixed charges (as outlined below) |
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| 37,024 |
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| 25,463 |
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| 24,284 |
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| 23,181 |
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| 30,528 |
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Total earnings, as defined |
| $ | 102,338 |
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| $ | 91,297 |
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| $ | 94,884 |
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| $ | 80,238 |
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| $ | 54,348 |
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FIXED CHARGES: |
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Interest charges (b) |
| $ | 33,812 |
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| $ | 23,086 |
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| $ | 22,057 |
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| $ | 21,109 |
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| $ | 35,954 |
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Less: Write-off unamortized debt issuance costs (c) |
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| (7,296) |
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Interest component of rental expense |
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| 3,212 |
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| 2,377 |
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| 2,227 |
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| 2,072 |
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| 1,870 |
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Total fixed charges, as defined |
| $ | 37,024 |
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| $ | 25,463 |
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| $ | 24,284 |
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| $ | 23,181 |
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| $ | 30,528 |
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Ratio of earnings to fixed charges |
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| 2.76 | x |
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| 3.59 | x |
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| 3.91 | x |
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| 3.46 | x |
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| 1.78 x |
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Amount of earnings insufficient to cover fixed charges |
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(a) Amount represents Income before income taxes as reported in our Consolidated Statements of Operations plus net loss (income) attributable to noncontrolling interests. |
(b) Includes the amortization of debt discount and debt issuance costs. |
(c) Amount included in interest charges line item above. As such, it is backed out separately from the computation of fixed charges. |