ADESA, Inc.
Computation of Ratio of Earnings to Fixed Charges
| | Three months ended March 31, | For the years ended December 31, | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2004 | 2003 | 2003 | 2002 | 2001 | 2000 | 1999 | ||||||||||||||||
| Thousands, except ratios | ||||||||||||||||||||||
| Income from continuing operations before income taxes | $ | 54,902 | $ | 44,081 | $ | 189,588 | $ | 153,700 | $ | 120,545 | $ | 84,007 | $ | 69,612 | ||||||||
| Fixed charges: | ||||||||||||||||||||||
| Interest expense | 3,988 | 4,602 | 15,996 | 22,492 | 38,639 | 26,056 | 12,985 | |||||||||||||||
| Interest component of all rentals | 1,863 | 2,007 | 7,779 | 7,962 | 7,913 | 6,237 | 4,502 | |||||||||||||||
| Total fixed charges | 5,851 | 6,609 | 23,775 | 30,454 | 46,552 | 32,293 | 17,487 | |||||||||||||||
| Earnings before income taxes and fixed charges | $ | 60,753 | $ | 50,690 | $ | 213,363 | $ | 184,154 | $ | 167,097 | $ | 116,300 | $ | 87,099 | ||||||||
| Ratio of earnings to fixed charges | 10.4 | 7.7 | 9.0 | 6.0 | 3.6 | 3.6 | 5.0 | |||||||||||||||
Computation of Pro Forma Ratio of Earnings to
Fixed Charges after Adjustment for Issuance of Debt
| Earnings before income taxes and fixed charges | 60,753 | $ | 50,690 | $ | 213,363 | |||||||||||||
| Fixed charges | 5,851 | 6,609 | 23,775 | |||||||||||||||
| Adjustments: | ||||||||||||||||||
| Estimated net increase in interest expense from refinancing | 3,443 | 2,398 | 12,004 | |||||||||||||||
| Total pro forma charges | $ | 9,294 | $ | 9,007 | $ | 35,779 | ||||||||||||
| Pro forma ratio of earnings to fixed charges | 6.5 | 5.6 | 6.0 | |||||||||||||||
