Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - CREDIT ACCEPTANCE CORP | Financial_Report.xls |
| EX-21 - EXHIBIT 21 - CREDIT ACCEPTANCE CORP | cacc-20141231xex21.htm |
| EX-32.2 - EXHIBIT 32.2 - CREDIT ACCEPTANCE CORP | cacc-20141231xex32b.htm |
| EX-32.1 - EXHIBIT 32.1 - CREDIT ACCEPTANCE CORP | cacc-20141231xex32a.htm |
| EX-23 - EXHIBIT 23 - CREDIT ACCEPTANCE CORP | cacc-20141231xex23.htm |
| EX-31.1 - EXHIBIT 31.1 - CREDIT ACCEPTANCE CORP | cacc-20141231xex31a.htm |
| EX-31.2 - EXHIBIT 31.2 - CREDIT ACCEPTANCE CORP | cacc-20141231xex31b.htm |
| 10-K - 10-K - CREDIT ACCEPTANCE CORP | cacc-20141231x10k.htm |
EXHIBIT 12
CREDIT ACCEPTANCE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the Years Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
(In millions, except ratios) | |||||||||||||||||||
Earnings Available for Fixed Charges | |||||||||||||||||||
Income before provision for income taxes | $ | 420.9 | $ | 398.2 | $ | 343.1 | $ | 296.4 | $ | 253.5 | |||||||||
Add fixed charges included in earnings: | |||||||||||||||||||
Interest expense | 56.7 | 65.0 | 63.4 | 57.2 | 47.8 | ||||||||||||||
Interest element of rentals | 0.5 | 0.4 | 0.3 | 0.3 | 0.3 | ||||||||||||||
Total fixed charges (1) | $ | 57.2 | $ | 65.4 | $ | 63.7 | $ | 57.5 | $ | 48.1 | |||||||||
Total earnings available for fixed charges | $ | 478.1 | $ | 463.6 | $ | 406.8 | $ | 353.9 | $ | 301.6 | |||||||||
Ratio of earnings to fixed charges | 8.4 | 7.1 | 6.4 | 6.2 | 6.3 | ||||||||||||||
(1) “Fixed charges” are defined as interest on borrowings (whether expensed or capitalized) and the portion of rental and operating lease expenses applicable to interest.