EX-12 2 cacc-20151231xex12.htm EXHIBIT 12
EXHIBIT 12
CREDIT ACCEPTANCE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

| For the Years Ended December 31,
| 2015 |  | 2014 |  | 2013 |  | 2012 |  | 2011
| (In millions, except ratios)
Earnings Available for Fixed Charges |  |  |  |  |  |  |  |  |
Income before provision for income taxes | $ | 474.5 |  |  | $ | 420.9 |  |  | $ | 398.2 |  |  | $ | 343.1 |  |  | $ | 296.4 |
Add fixed charges included in earnings: |  |  |  |  |  |  |  |  |
Interest expense | 76.0 |  |  | 56.7 |  |  | 65.0 |  |  | 63.4 |  |  | 57.2 |
Interest element of rentals | 0.5 |  |  | 0.5 |  |  | 0.4 |  |  | 0.3 |  |  | 0.3 |
Total fixed charges (1) | $ | 76.5 |  |  | $ | 57.2 |  |  | $ | 65.4 |  |  | $ | 63.7 |  |  | $ | 57.5 |
Total earnings available for fixed charges | $ | 551.0 |  |  | $ | 478.1 |  |  | $ | 463.6 |  |  | $ | 406.8 |  |  | $ | 353.9 |
Ratio of earnings to fixed charges | 7.2 |  |  | 8.4 |  |  | 7.1 |  |  | 6.4 |  |  | 6.2 |

(1) “Fixed charges” are defined as interest on borrowings (whether expensed or capitalized) and the portion of rental and operating lease expenses applicable to interest.