1
EXHIBIT 12.1
APCOA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN THOUSANDS, EXCEPT RATIO DATA)
YEAR ENDED DECEMBER 31,
------------------------------------------------- PRO FORMA
1993 1994 1995 1996 1997 1997
------- ------- ------- ------ ------ ---------
Income (loss) before income
taxes and minority interest... $(4,037) $(2,880) $(2,273) $1,469 $2,320 $(2,326)
Fixed charges................... 2,966 3,129 4,216 4,261 4,611 24,648
------- ------- ------- ------ ------ -------
Earnings........................ $(1,071) $ 249 $ 1,943 $5,730 $6,931 $22,322
======= ======= ======= ====== ====== =======
Interest expense................ $ 2,084 $ 2,437 $ 3,101 $3,409 $3,713 $14,225
Amortization of deferred
financing costs............... 361 198 574 228 180 720
Interest portion of rent
expense....................... 521 494 541 624 718 9,703
------- ------- ------- ------ ------ -------
Fixed charges................... $ 2,966 $ 3,129 $ 4,216 $4,261 $4,611 $24,648
======= ======= ======= ====== ====== =======
Ratio of earnings to fixed
charges....................... Note 1 Note 1 Note 1 1.3x 1.5x Note 1
======= ======= ======= ====== ====== =======
- ---------------
Note 1: Earnings were inadequate to cover fixed charges by $4,037, $2,880,
$2,273 and $2,326 for the years ended December 31, 1993, 1994 and 1995 and the
pro forma year ended December 31, 1997, respectively.