EX-12.1 3 acfexhibit121computationof.htm EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ACF Exhibit 12.1 Computation of Ratio of Earnings to Fixed Charges FY 2013


EXHIBIT 12.1
GENERAL MOTORS FINANCIAL COMPANY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in millions)
 
Year Ended December 31, 2013(b)
 
Year Ended December 31, 2012(b)
 
Year Ended December 31, 2011(b)
COMPUTATION OF EARNINGS:
 
 
 
 
 
Income (loss) before income taxes
$
883

 
$
744

 
$
622

Fixed charges
738

 
319

 
275

 
$
1,621

 
$
1,063

 
$
897

COMPUTATION OF FIXED CHARGES:
 
 
 
 
 
Fixed charges: (a)
 
 
 
 
 
Interest expense
$
717

 
$
315

 
$
271

Implicit interest in rent
7

 
4

 
4

 
$
724

 
$
319

 
$
275

 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
2.2X

 
3.3X

 
3.3X

_________________  
(a)
For purposes of such computation, the term "fixed charges" represents interest expense, including amortization of debt issuance costs, and a portion of rentals representative of an implicit interest factor for such rentals.
(b)
For 2013, 2012 and 2011 interest expense excludes $(4) million, $32 million and $67 million of purchase accounting adjustments.