EX-12.1 2 ex121ratioofearningstofixe.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.1
AutoNation, Inc.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
($ in millions)


 
 
Year Ended December 31,
Earnings
 
2017
 
2016
 
2015
 
2014
 
2013
Income from continuing operations before income taxes
 
$
636.5

 
$
702.3

 
$
722.7

 
$
682.3

 
$
604.4

Fixed charges
 
237.1

 
210.9

 
168.2

 
158.5

 
159.4

Interest capitalized
 
(1.0
)
 
(0.5
)
 
(0.9
)
 
(1.2
)
 
(0.7
)
Earnings, as defined
 
$
872.6

 
$
912.7

 
$
890.0

 
$
839.6

 
$
763.1

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Floorplan interest expense
 
$
97.0

 
$
76.5

 
$
58.3

 
$
53.3

 
$
53.4

Other interest expense (a)
 
120.2

 
115.6

 
91.1

 
86.9

 
88.6

Capitalized interest costs
 
1.0

 
0.5

 
0.9


1.2


0.7

Interest component of rent expense (b)
 
18.9

 
18.3

 
17.9

 
17.1

 
16.7

Total fixed charges
 
$
237.1

 
$
210.9

 
$
168.2

 
$
158.5

 
$
159.4

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
3.7

 
4.3

 
5.3

 
5.3

 
4.8


(a)
Includes amortization of debt issuance costs and other interest expense associated with discontinued operations.
(b)
Calculated based on rent expense that includes amounts associated with discontinued operations.