EX-12.1 14 ex121q4.htm WebFilings | EDGAR view
 

Exhibit 12.1
ASBURY AUTOMOTIVE GROUP, INC.
COMPUTATION OF FINANCIAL RATIOS
(In millions, except ratios)
 
Ratio of earnings to fixed charges
For the Years Ended December 31,
 
EARNINGS COMPUTATION:
2010
 
2009
 
2008
 
2007
 
2006
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
$
37.3
 
 
$
25.2
 
 
$
(327.0
)
 
$
42.7
 
 
$
52.4
 
 
 
 
 
 
 
 
 
 
 
 
 
Income tax Expense
23.2
 
 
15.1
 
 
(136.2
)
 
23.6
 
 
31.7
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
68.3
 
 
69.2
 
 
85.2
 
 
89.8
 
 
90.2
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization of capitalized interest
0.2
 
 
0.2
 
 
0.1
 
 
0.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capitalized interest
(0.5
)
 
(0.4
)
 
(1.1
)
 
(0.3
)
 
(0.6
)
 
 
 
 
 
 
 
 
 
 
 
 
Earnings for purposes of computation
$
128.5
 
 
$
109.3
 
 
$
(379.0
)
 
$
155.9
 
 
$
173.8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES COMPUTATION:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
35.4
 
 
$
35.5
 
 
$
39.8
 
 
$
38.7
 
 
$
37.5
 
 
 
 
 
 
 
 
 
 
 
 
 
Floor plan interest expense
9.2
 
 
10.5
 
 
21.5
 
 
30.4
 
 
29.0
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization deferred financing fees
2.5
 
 
3.1
 
 
2.6
 
 
2.5
 
 
6.7
 
 
 
 
 
 
 
 
 
 
 
 
 
Swap Interest Expense
6.6
 
 
6.6
 
 
5.5
 
 
1.7
 
 
1.3
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest component of rent expense
14.1
 
 
13.1
 
 
14.7
 
 
16.2
 
 
15.2
 
 
 
 
 
 
 
 
 
 
 
 
 
Capitalized interest
0.5
 
 
0.4
 
 
1.1
 
 
0.3
 
 
0.6
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges for purposes of computation
$
68.3
 
 
$
69.2
 
 
$
85.2
 
 
$
89.8
 
 
$
90.2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
1.88
 
 x
1.58
 
 x
(4.45
)
 x
1.74
 
 x
1.93
 
 x