EX-12.1 5 h69297exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
CARDTRONICS, INC. AND SUBSIDIARIES
RATIOS OF EARNINGS TO FIXED CHARGES
(in thousands)
                                                 
    Nine Months        
    Ended        
    September 30,     Years Ended December 31,  
    2009     2008     2007     2006     2005     2004  
EARNINGS:
                                               
(Loss) income before income taxes and cumulative effect of accounting changes
  $ 7,371     $ (71,408 )   $ (23,380 )   $ (244 )   $ (3,673 )   $ 9,381  
Fixed charges (as outlined below), less preferred dividends (a)
    26,520       35,614       33,079       26,914       20,202       8,072  
 
                                   
Total earnings, as defined
  $ 33,891     $ (35,794 )   $ 9,699     $ 26,670     $ 16,529     $ 17,472  
 
                                   
FIXED CHARGES:
                                               
Interest charges (b)
  $ 24,605     $ 33,197     $ 31,164     $ 25,072     $ 22,426     $ 5,235  
Less: Write-off of unamortized debt issuance costs (c)
                      (534 )     (5,038 )      
Plus: Interest component of rental expense
    1,915       2,417       1,915       2,376       2,814       2,837  
 
                                   
Plus: Total fixed charges, as defined
  $ 26,520     $ 35,614     $ 33,079     $ 26,914     $ 20,202     $ 8,072  
 
                                   
 
                                               
Ratio of earnings to fixed charges
    1.3x       N/A       N/A       N/A       N/A       2.2x  
Amount of earnings insufficient to cover fixed charges
  $     $ 71,408     $ 23,380     $ 244     $ 3,673     $  
 
(a)   Excludes preferred dividends as such amounts were not deducted in arriving at the (loss) income before income taxes and cumulative effect of accounts changes amounts reflected above.
 
(b)   Includes the amortization of debt discounts and the amortization and write-off of debt issuance costs.
 
(c)   Amounts included in the interest charges line above. As such, it is backed out separately from the computation of fixed charges.