EX-12.1 2 ex121ratioofearningstofixe.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12.1
AutoNation, Inc.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
($ in millions)

|  | Year Ended December 31,
Earnings |  | 2015 |  | 2014 |  | 2013 |  | 2012 |  | 2011
Income from continuing operations before income taxes |  | $ | 722.7 |  |  | $ | 682.3 |  |  | $ | 604.4 |  |  | $ | 516.8 |  |  | $ | 461.3 |
Fixed charges |  | 168.2 |  |  | 158.5 |  |  | 159.4 |  |  | 149.7 |  |  | 128.8 |
Interest capitalized |  | (0.9 | ) |  | (1.2 | ) |  | (0.7 | ) |  | (0.6 | ) |  | (1.0 | )
Earnings, as defined |  | $ | 890.0 |  |  | $ | 839.6 |  |  | $ | 763.1 |  |  | $ | 665.9 |  |  | $ | 589.1 |
Fixed Charges |  |  |  |  |  |  |  |  |  |
Floorplan interest expense |  | $ | 58.3 |  |  | $ | 53.3 |  |  | $ | 53.4 |  |  | $ | 45.5 |  |  | $ | 42.7 |
Other interest expense (a) |  | 91.1 |  |  | 86.9 |  |  | 88.6 |  |  | 87.2 |  |  | 66.5 |
Capitalized interest costs |  | 0.9 |  |  | 1.2 |  |  | 0.7 |  |  | 0.6 |  |  | 1.0 |
Interest component of rent expense (b) |  | 17.9 |  |  | 17.1 |  |  | 16.7 |  |  | 16.4 |  |  | 18.6 |
Total fixed charges |  | $ | 168.2 |  |  | $ | 158.5 |  |  | $ | 159.4 |  |  | $ | 149.7 |  |  | $ | 128.8 |
Ratio of earnings to fixed charges |  | 5.3 |  |  | 5.3 |  |  | 4.8 |  |  | 4.4 |  |  | 4.6 |

(a) | Includes amortization of debt issuance costs and other interest expense associated with discontinued operations.

(b) | Calculated based on rent expense that includes amounts associated with discontinued operations.