EX-12.1 10 aap_exhibit121x1022016.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1


Advance Auto Parts, Inc.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
In Thousands, Except Ratio Data

 
 
Fiscal Year (1)
 
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
 
Earnings Before Income Taxes
 
752,888

 
781,394

 
626,398

 
624,074

 
633,236

Add: Fixed Charges
 
279,415

 
301,297

 
195,327

 
170,426

 
187,812

Less: Capitalized Interest
 
(880
)
 
(2,145
)
 
(2,077
)
 
(2,064
)
 
(2,191
)
Adjusted Earnings
 
1,031,423

 
1,080,546

 
819,648

 
792,436

 
818,857

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest Expense (2)
 
66,288

 
75,553

 
38,694

 
35,905

 
33,140

Portion of rent estimated to represent interest
 
213,127

 
225,744

 
156,633

 
134,521

 
154,672

Total Fixed Charges
 
279,415

 
301,297

 
195,327

 
170,426

 
187,812

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
3.7

 
3.6

 
4.2

 
4.6

 
4.4


(1) 
Our fiscal year consists of 52 or 53 weeks ending on the Saturday nearest December 31st. All fiscal years presented are 52 weeks, with the exception of Fiscal 2014 which consisted of 53 weeks.
(2) 
Including amortization of debt discount and debt issuance costs.