Exhibit 12.1
CARDTRONICS, INC. AND SUBSIDIARIES
RATIOS OF EARNINGS TO FIXED CHARGES
(in thousands)
RATIOS OF EARNINGS TO FIXED CHARGES
(in thousands)
Nine Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
September 30, | Years Ended December 31, | |||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
(Loss) income before income taxes and cumulative effect of accounting changes | $ | 7,371 | $ | (71,408 | ) | $ | (23,380 | ) | $ | (244 | ) | $ | (3,673 | ) | $ | 9,381 | ||||||||
Fixed charges (as outlined below), less preferred dividends(a) | 26,520 | 35,614 | 33,079 | 26,914 | 20,202 | 8,072 | ||||||||||||||||||
Total earnings, as defined | $ | 33,891 | $ | (35,794 | ) | $ | 9,699 | $ | 26,670 | $ | 16,529 | $ | 17,472 | |||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest charges(b) | $ | 24,605 | $ | 33,197 | $ | 31,164 | $ | 25,072 | $ | 22,426 | $ | 5,235 | ||||||||||||
Less: Write-off of unamortized debt issuance costs(c) | — | — | — | (534 | ) | (5,038 | ) | — | ||||||||||||||||
Plus: Interest component of rental expense | 1,915 | 2,417 | 1,915 | 2,376 | 2,814 | 2,837 | ||||||||||||||||||
Plus: Total fixed charges, as defined | $ | 26,520 | $ | 35,614 | $ | 33,079 | $ | 26,914 | $ | 20,202 | $ | 8,072 | ||||||||||||
Ratio of earnings to fixed charges | 1.3x | N/A | N/A | N/A | N/A | 2.2x | ||||||||||||||||||
Amount of earnings insufficient to cover fixed charges | $ | — | $ | 71,408 | $ | 23,380 | $ | 244 | $ | 3,673 | $ | — |
(a) | Excludes preferred dividends as such amounts were not deducted in arriving at the (loss) income 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. |