Exhibit 12.1
SONIC AUTOMOTIVE, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
| Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||
| (In thousands) | 2013 | 2012 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense, including floor plan interest (1) | $ | 20,211 | $ | 21,926 | $ | 83,626 | $ | 90,894 | $ | 100,990 | $ | 114,221 | $ | 121,057 | ||||||||||||||
Capitalized interest | 544 | 31 | 1,198 | 2,290 | 2,330 | 702 | 1,543 | |||||||||||||||||||||
Rent expense (interest factor) | 6,341 | 6,411 | 25,495 | 27,942 | 28,962 | 29,541 | 29,660 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges | 27,096 | 28,368 | 110,319 | 121,126 | 132,282 | 144,464 | 152,260 | |||||||||||||||||||||
Income from continuing operations before income taxes and cumulative effect of change in accounting principle | 35,570 | 35,057 | 141,233 | 133,262 | 83,092 | 32,537 | (755,755 | ) | ||||||||||||||||||||
Add: Fixed charges | 27,096 | 28,368 | 110,319 | 121,126 | 132,282 | 144,464 | 152,260 | |||||||||||||||||||||
Less: Capitalized interest | (544 | ) | (31 | ) | (1,198 | ) | (2,290 | ) | (2,330 | ) | (702 | ) | (1,543 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Income from continuing operations before income taxes and cumulative effect of change in accounting principle & fixed charges | $ | 62,122 | $ | 63,394 | $ | 250,354 | $ | 252,098 | $ | 213,044 | $ | 176,299 | $ | (605,038 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Ratio of earnings to fixed charges | 2.3 x | 2.2 x | 2.3 x | 2.1 x | 1.6 x | 1.2 x | (757,298 | ) | ||||||||||||||||||||
| (1) | Includes interest expense associated with discontinued operations. |
