EX-12.1 4 catm-20141231ex1212e4f52.htm EX-12.1 EX-121

Exhibit 12.1

 

CARDTRONICS, INC. AND SUBSIDIARIES

RATIOS OF EARNINGS TO FIXED CHARGES

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

 

Years ended December 31,

 

   

 

2014

 

 

2013

 

 

2012

 

 

2011

 

 

2010

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$
65,314 

 

 

$
65,834 

 

 

$
70,600 

 

 

$
57,057 

 

 

$
23,820 

 

Fixed charges (as outlined below)

 

 
37,024 

 

 

 
25,463 

 

 

 
24,284 

 

 

 
23,181 

 

 

 
30,528 

 

Total earnings, as defined

 

$
102,338 

 

 

$
91,297 

 

 

$
94,884 

 

 

$
80,238 

 

 

$
54,348 

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges (b)

 

$
33,812 

 

 

$
23,086 

 

 

$
22,057 

 

 

$
21,109 

 

 

$
35,954 

 

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

 

 

 —

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 
(7,296)

 

Interest component of rental expense

 

 
3,212 

 

 

 
2,377 

 

 

 
2,227 

 

 

 
2,072 

 

 

 
1,870 

 

Total fixed charges, as defined

 

$
37,024 

 

 

$
25,463 

 

 

$
24,284 

 

 

$
23,181 

 

 

$
30,528 

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 
2.76 

x

 

 
3.59 

x

 

 
3.91 

x

 

 
3.46 

x

 

 

   1.78 x

 

Amount of earnings insufficient to cover fixed charges

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

(a) Amount represents Income 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) Amount included in interest charges line item above.  As such, it is backed out separately from the computation of fixed charges.