EX-12.1 5 d401385dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

CASH AMERICA INTERNATIONAL, INC.

RATIO OF EARNINGS TO FIXED CHARGES

($ in thousands)

 

     Six Months Ended
June 30,		      Years Ended December 31,  
     2012      2011     2010     2009     2008     2007  

Earnings:

              

Net income attributable to Cash America International, Inc. before noncontrolling interests and income taxes

    $ 112,114       $ 217,526      $ 184,513      $ 154,716      $ 132,803      $ 124,765   

Fixed charges

      24,760         47,064        41,958        38,037        30,908        29,079   

Amortization of capitalized interest

      198         198        —          —          —          —     

Less: Capitalized interest

      —           (558 )      (730 )      (797 )      (1,185 )      (683 ) 
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

    $ 137,072       $ 264,230      $ 225,741      $ 191,956      $ 162,526      $ 153,161   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges:

              

Interest expense

    $ 13,869       $ 25,528      $ 22,345      $ 20,807      $ 15,993      $ 16,021   

Capitalized interest

      —           558        730        797        1,185        683   

Amortization of debt discount and issuance costs

      1,874         3,566        3,340        1,956        —          —     

Portion of rent expense representative of interest

      9,017         17,412        15,543        14,477        13,730        12,375   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 24,760       $ 47,064      $ 41,958      $ 38,037      $ 30,908      $ 29,079   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges (1)

     5.5  x         5.6  x        5.4  x        5.0  x        5.3  x        5.3  x   

 

(1) 

For purposes of computing these ratios, “earnings” represent income from continuing operations before noncontrolling interest and income taxes plus fixed charges and amortization of capitalized interest, less capitalized interest. “Fixed charges” consist of interest expense, including capitalized interest, amortization of debt discount and issuance costs and one-third (the portion deemed representative of the interest factor) of rental expense on operating leases. Fixed charges also include interest expense related to uncertain tax positions.