EX-12.1 6 catm-20131231ex121cb997f.htm EX-12.1 Exhibit 121 Ratio of earnings to fixed charges

Exhibit 12.1

 

CARDTRONICS, INC. AND SUBSIDIARIES

RATIOS OF EARNINGS TO FIXED CHARGES

(in thousands)

 

   

 

Years ended December 31,

 

   

 

2013

 

 

2012

 

 

2011

 

 

2010

 

 

2009

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes and cumulative effect of accounting changes (a)

 

$

65,834

 

 

$

70,600

 

 

$

57,057

 

 

$

23,820

 

 

$

9,522

 

Fixed charges (as outlined below)

 

 

25,463

 

 

 

24,284

 

 

 

23,181

 

 

 

30,528

 

 

 

34,624

 

Total earnings, as defined

 

$

91,297

 

 

$

94,884

 

 

$

80,238

 

 

$

54,348

 

 

$

44,146

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges (b)

 

$

23,086

 

 

$

22,057

 

 

$

21,109

 

 

$

35,954

 

 

$

32,528

 

Less: Write-off unamortized debt issuance costs (c)

 

 

 —

 

 

 

 

 

 

 

 

 

(7,296

)

 

 

 

Interest component of rental expense

 

 

2,377

 

 

 

2,227

 

 

 

2,072

 

 

 

1,870

 

 

 

2,096

 

Total fixed charges, as defined

 

$

25,463

 

 

$

24,284

 

 

$

23,181

 

 

$

30,528

 

 

$

34,624

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

3.59

x

 

 

3.91

x

 

 

3.46

x

 

 

1.78

x

 

 

1.28

 

Amount of earnings insufficient to cover fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Amount represents Income (loss) before income taxes as reported in our Consolidated Statements of Operations plus net loss (income) attributable to noncontrolling interests.

(b) Includes the amortization of debt discount and debt issuance costs.

(c) Amounts included in interest charges line item above.  As such, it is backed out separately from the computation of fixed charges.