EX-99.6 9 a14-21467_1ex99d6.htm EX-99.6

Exhibit 99.6

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Year Ended December 31,

 

 

 

2013

 

2012

 

2011

 

2010

 

2009

 

Income from continuing operations before undistributed earnings of equity method investments, amortization of capitalized interest, and taxes

 

372.6

 

287.7

 

245.2

 

185.7

 

119.6

 

Less undistributed earnings of equity method investments

 

(30.7

)

(27.6

)

(25.4

)

(20.6

)

(13.8

)

Plus distributed earnings of equity method investments

 

10.8

 

23.6

 

9.2

 

9.9

 

21.3

 

Plus amortization of capitalized interest

 

0.8

 

0.8

 

0.8

 

0.8

 

0.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

353.5

 

284.5

 

229.8

 

175.8

 

127.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Plus:

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Other interest expense (includes amortization of deferred financing costs)

 

47.7

 

46.6

 

44.1

 

48.4

 

54.5

 

Debt discount amortization

 

—

 

—

 

1.7

 

8.6

 

13.0

 

Floor plan interest expense

 

43.3

 

38.1

 

26.6

 

32.4

 

32.7

 

Capitalized interest

 

1.3

 

0.6

 

0.7

 

0.5

 

0.9

 

Interest factor in rental expense

 

59.1

 

55.9

 

53.2

 

50.3

 

49.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

151.4

 

141.2

 

126.3

 

140.2

 

150.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

1.3

 

0.6

 

0.7

 

0.5

 

0.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

503.6

 

425.1

 

355.4

 

315.5

 

277.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.3

 

3.0

 

2.8

 

2.3

 

1.8