EX-12.1 4 exhibit121-12312015.htm EXHIBIT 12.1 Exhibit
Exhibit 12.1

Group 1 Automotive, Inc.
Ratios of Earnings to Fixed Charges
(Dollars in thousands, unaudited)


 
 
For the year ended December 31,
 
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
 
Pretax income
 
$
182,171

 
$
164,400

 
$
191,895

 
$
160,735

 
$
132,094

Add:
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
108,106

 
105,739

 
97,233

 
84,395

 
78,429

Less:
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
(741
)
 
(731
)
 
(805
)
 
(689
)
 
(635
)
Total Earnings
 
$
289,536

 
$
269,408

 
$
288,323

 
$
244,441

 
$
209,888

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
96,167

 
$
91,306

 
$
80,639

 
$
69,261

 
$
61,409

Estimated interest within rent expense
 
11,198

 
13,702

 
15,789

 
14,445

 
16,385

Capitalized interest
 
741

 
731

 
805

 
689

 
635

Total Fixed Charges
 
$
108,106

 
$
105,739

 
$
97,233

 
$
84,395

 
$
78,429

Ratio of Earnings to Fixed Charges
 
2.7

 
2.5

 
3.0

 
2.9

 
2.7