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 |  | 2017 |  | 2016 |  | 2015 |  | 2014 |  | 2013
Income from continuing operations before income taxes |  | $ | 636.5 |  |  | $ | 702.3 |  |  | $ | 722.7 |  |  | $ | 682.3 |  |  | $ | 604.4 |
Fixed charges |  | 237.1 |  |  | 210.9 |  |  | 168.2 |  |  | 158.5 |  |  | 159.4 |
Interest capitalized |  | (1.0 | ) |  | (0.5 | ) |  | (0.9 | ) |  | (1.2 | ) |  | (0.7 | )
Earnings, as defined |  | $ | 872.6 |  |  | $ | 912.7 |  |  | $ | 890.0 |  |  | $ | 839.6 |  |  | $ | 763.1 |
Fixed Charges |  |  |  |  |  |  |  |  |  |
Floorplan interest expense |  | $ | 97.0 |  |  | $ | 76.5 |  |  | $ | 58.3 |  |  | $ | 53.3 |  |  | $ | 53.4 |
Other interest expense (a) |  | 120.2 |  |  | 115.6 |  |  | 91.1 |  |  | 86.9 |  |  | 88.6 |
Capitalized interest costs |  | 1.0 |  |  | 0.5 |  |  | 0.9 |  |  | 1.2 |  |  | 0.7 |
Interest component of rent expense (b) |  | 18.9 |  |  | 18.3 |  |  | 17.9 |  |  | 17.1 |  |  | 16.7 |
Total fixed charges |  | $ | 237.1 |  |  | $ | 210.9 |  |  | $ | 168.2 |  |  | $ | 158.5 |  |  | $ | 159.4 |
Ratio of earnings to fixed charges |  | 3.7 |  |  | 4.3 |  |  | 5.3 |  |  | 5.3 |  |  | 4.8 |

(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.