EX-12.1 4 catm-20151231ex121c47445.htm EX-12.1 catm_Ex12_1

Exhibit 12.1

 

CARDTRONICS, INC. AND SUBSIDIARIES

RATIOS OF EARNINGS TO FIXED CHARGES

(in thousands)

 

 

 

Year ended December 31,

 

 

    

2015

    

2014

    

2013

    

2012

    

2011

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

 

 

 

 

 

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

 

$
106,422 

 

$
65,314 

 

$
65,834 

 

$
70,600 

 

$
57,057 

 

Fixed charges (as outlined below)

 

 
35,473 

 

 
37,024 

 

 
25,463 

 

 
24,284 

 

 
23,181 

 

Total earnings, as defined

 

$
141,895 

 

$
102,338 

 

$
91,297 

 

$
94,884 

 

$
80,238 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges (b)

 

$
30,814 

 

$
33,812 

 

$
23,086 

 

$
22,057 

 

$
21,109 

 

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

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Interest component of rental expense

 

 
4,659 

 

 
3,212 

 

 
2,377 

 

 
2,227 

 

 
2,072 

 

Total fixed charges, as defined

 

$
35,473 

 

$
37,024 

 

$
25,463 

 

$
24,284 

 

$
23,181 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 
4.00 

x

 
2.76 

x

 
3.59 

x

 
3.91 

x

 

3.46  x

 

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)

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