EX-12.1 2 eeft12312011ex1211.htm RATIO OF EARNINGS TO FIXED CHARGES EEFT 12/31/2011 EX12.1 (1)


Exhibit 12.1
EURONET WORLDWIDE, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)

 
 
Year Ended December 31,
(dollar amounts in thousands)
 
2012
 
2011
 
2010
Pretax income before adjustment for income from unconsolidated subsidiaries
 
$
46,392

 
$
60,940

 
$
(16,479
)
Add:
 
 
 
 
 
 
Fixed charges
 
29,313

 
29,349

 
26,416

  Dividends received
 
2,021

 
118

 
—

Adjusted pretax income
 
$
77,726

 
$
90,407

 
$
9,937

Fixed charges:
 
 
 
 
 
 
Interest expense
 
$
19,653

 
$
21,385

 
$
20,447

Estimate of interest within rental expense
 
9,660

 
7,964

 
5,969

Total fixed charges
 
$
29,313

 
$
29,349

 
$
26,416

Ratio of earnings to fixed charges
 
2.7

 
3.1

 
(A)
_______________________
(A) Adjusted pretax income was inadequate to cover fixed charges by $16.5 million in 2010.