Exhibit 12.1
COMMUNITY CHOICE FINANCIAL INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
|
| Year Ended December 31, |
| Six |
| ||||||||||||||
|
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2012 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
| (unaudited) |
| ||||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Income (loss) before provision (benefit) for income taxes, discontinued operations, and extraordinary item |
| $ | 30,406 |
| $ | 53,226 |
| $ | 38,311 |
| $ | (29,614 | ) | $ | 17,919 |
| $ | 12,122 |
|
Equity investment (income) loss |
| 415 |
| — |
| — |
| — |
| — |
| 155 |
| ||||||
Total earnings, as adjusted |
| $ | 30,821 |
| $ | 53,226 |
| $ | 38,311 |
| $ | (29,614 | ) | $ | 17,919 |
| $ | 12,277 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest Expense |
| $ | 32,775 |
| $ | 8,423 |
| $ | 11,379 |
| $ | 16,113 |
| $ | 18,277 |
| $ | 21,530 |
|
Amortization of deferred financing costs |
| 1,559 |
| 78 |
| 153 |
| 78 |
| 144 |
| 1,050 |
| ||||||
Total fixed charges |
| $ | 34,334 |
| $ | 8,501 |
| $ | 11,532 |
| $ | 16,191 |
| $ | 18,421 |
| $ | 22,580 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Ratio of earnings to fixed charges |
| 0.9 |
| 6.3 |
| 3.3 |
| — |
| 1.0 |
| 0.5 |
| ||||||
For the periods ended December 31, 2011, 2008 and 2007, the deficiency was $6,946, $47,424 and $2,344, respectively. The deficiency for the six months ended June 30, 2012 is $12,500.