EX-12.1 2 dex121.htm STATEMENT RE COMPUTATION OF RATIOS Statement Re Computation of Ratios

EXHIBIT 12.1

 

AMERICREDIT CORP.

 

STATEMENT RE COMPUTATION OF RATIOS

(dollars in thousands)

 

     Years Ended June 30,
  
     2005
     2004
     2003
  

COMPUTATION OF EARNINGS:

                         

Income before income taxes

    $ 452,399     $ 365,116     $ 34,486  

Fixed charges

      269,146       261,137       214,062  
    
 
 
     $ 721,545     $ 626,253     $ 248,548  
    
 
 

COMPUTATION OF FIXED CHARGES:

                         

Fixed charges:(a)

                         

Interest expense

    $ 264,276     $ 251,963     $ 202,225  

Implicit interest in rent

      4,870       9,174       11,837  
    
 
 
     $ 269,146     $ 261,137     $ 214,062  
    
 
 

RATIO OF EARNINGS TO FIXED CHARGES

      2.7 x     2.4 x     1.2 x
    
 
 
(a)   For purposes of such computation, the term “fixed charges” represents interest expense and a portion of rentals representative of an implicit interest factor for such rentals.