EX-12.1 3 exhibit121-12312017.htm EXHIBIT 12.1 Exhibit
Exhibit 12.1

Group 1 Automotive, Inc.
Ratios of Earnings to Fixed Charges
(Dollars in thousands, unaudited)


 
 
For the year ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
 
Pretax income
 
$
219,003

 
$
227,371

 
$
182,171

 
$
164,400

 
$
191,895

Add:
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
138,199

 
127,014

 
108,106

 
105,739

 
97,233

Less:
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
(1,649
)
 
(1,720
)
 
(741
)
 
(731
)
 
(805
)
Total Earnings
 
$
355,553

 
$
352,665

 
$
289,536

 
$
269,408

 
$
288,323

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
122,869

 
$
112,863

 
$
96,167

 
$
91,306

 
$
80,639

Estimated interest within rent expense
 
13,681

 
12,431

 
11,198

 
13,702

 
15,789

Capitalized interest
 
1,649

 
1,720

 
741

 
731

 
805

Total Fixed Charges
 
$
138,199

 
$
127,014

 
$
108,106

 
$
105,739

 
$
97,233

Ratio of Earnings to Fixed Charges
 
2.6

 
2.8

 
2.7

 
2.5

 
3.0