Exhibit 12.1
AMERICREDIT CORP.
STATEMENT RE COMPUTATION OF RATIOS
(dollars in thousands)
Years Ended June 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | 2007 | 2006 | ||||||||||||||||||||||
COMPUTATION OF EARNINGS | ||||||||||||||||||||||||||||
Income before income taxes | $ | 532,067 | $ | 485,235 | $ | 452,399 | $ | 365,116 | $ | 34,486 | $ | 86,348 | $ | 117,648 | ||||||||||||||
Fixed charges | 686,358 | 425,180 | 269,146 | 261,137 | 214,062 | 212,594 | 144,922 | |||||||||||||||||||||
$ | 1,218,425 | $ | 910,415 | $ | 721,545 | $ | 626,253 | $ | 248,548 | $ | 298,942 | $ | 262,570 | |||||||||||||||
COMPUTATION OF FIXED CHARGES: | ||||||||||||||||||||||||||||
Fixed charges: (a) | ||||||||||||||||||||||||||||
Interest expense | $ | 680,825 | $ | 419,360 | $ | 264,276 | $ | 251,963 | $ | 202,225 | $ | 211,261 | $ | 143,471 | ||||||||||||||
Implicit interest in rent | 5,533 | 5,820 | 4,870 | 9,174 | 11,837 | 1,333 | 1,451 | |||||||||||||||||||||
$ | 686,358 | $ | 425,180 | $ | 269,146 | $ | 261,137 | $ | 214,062 | $ | 212,594 | $ | 144,922 | |||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 1.8 | x | 2.1 | x | 2.7 | x | 2.4 | x | 1.2 | x | 1.4 | x | 1.8 | x | ||||||||||||||
(a) | For purposes of such computation, the term “fixed charges” represents interest expense, including amortization of debt issuance costs, and a portion of rentals representative of an implicit interest factor for such rentals. |