Exhibit 12.1
O’Reilly Automotive, Inc.
Computation of Ratio of Earnings to Fixed Charges
|
| Fiscal Year |
| |||||||||||||
|
| 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| |||||
Earnings |
|
|
|
|
|
|
|
|
|
|
| |||||
Income before income taxes |
| $ | 1,460,366 |
| $ | 1,222,182 |
| $ | 1,058,942 |
| $ | 941,521 |
| $ | 815,773 |
|
Fixed charges |
| 177,655 |
| 171,641 |
| 163,290 |
| 135,495 |
| 121,157 |
| |||||
Less: Capitalized interest |
| (7,423 | ) | (11,480 | ) | (10,644 | ) | (6,064 | ) | (4,666 | ) | |||||
Adjusted earnings |
| $ | 1,630,598 |
| $ | 1,382,343 |
| $ | 1,211,588 |
| $ | 1,070,953 |
| $ | 932,264 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Fixed charges |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest expense |
| $ | 62,954 |
| $ | 63,188 |
| $ | 58,164 |
| $ | 44,909 |
| $ | 31,378 |
|
Amortization of debt issuance costs |
| 1,598 |
| 1,582 |
| 1,554 |
| 1,355 |
| 1,453 |
| |||||
Interest portion of rent expense |
| 113,103 |
| 106,871 |
| 103,572 |
| 89,232 |
| 88,326 |
| |||||
Total fixed charges |
| $ | 177,655 |
| $ | 171,641 |
| $ | 163,290 |
| $ | 135,495 |
| $ | 121,157 |
|
|
|
|
|
|
|
|
|
|
|
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Ratio of earnings to fixed charges |
| 9.2x |
| 8.1x |
| 7.4x |
| 7.9x |
| 7.7x |
| |||||
