Attached files
| file | filename |
|---|---|
| 10-K - 10-K - General Motors Financial Company, Inc. | acf1231201510-k.htm |
| EX-23.1 - CONSENT OF INDEPENDENT REGISTERED ACCOUNTING FIRM - General Motors Financial Company, Inc. | acfexhibit231consentofinde.htm |
| EX-31.1 - OFFICERS' CERTIFICATIONS OF PERIODIC REPORT PURSUANT TO SECTION 302 - General Motors Financial Company, Inc. | acfexhibit311officerscerti.htm |
| EX-32.1 - OFFICERS' CERTIFICATIONS OF PERIODIC REPORT PURSUANT TO SECTION 906 - General Motors Financial Company, Inc. | acfexhibit321officerscerti.htm |
Exhibit 12.1
GENERAL MOTORS FINANCIAL COMPANY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in millions)
Years Ended December 31, | |||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
COMPUTATION OF EARNINGS: | |||||||||||||||||||
Income before income taxes and equity income | $ | 721 | $ | 815 | $ | 883 | $ | 744 | $ | 622 | |||||||||
Fixed charges | 1,609 | 1,402 | 724 | 319 | 275 | ||||||||||||||
$ | 2,330 | $ | 2,217 | $ | 1,607 | $ | 1,063 | $ | 897 | ||||||||||
COMPUTATION OF FIXED CHARGES: | |||||||||||||||||||
Fixed charges:(a) | |||||||||||||||||||
Interest expense(b) | $ | 1,600 | $ | 1,393 | $ | 717 | $ | 315 | $ | 271 | |||||||||
Implicit interest in rent | 9 | 9 | 7 | 4 | 4 | ||||||||||||||
$ | 1,609 | $ | 1,402 | $ | 724 | $ | 319 | $ | 275 | ||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 1.4X | 1.6X | 2.2X | 3.3X | 3.3X | ||||||||||||||
_________________
(a) | For purposes of such computation, the term "fixed charges" represents interest expense, including amortization of debt issuance costs, and a portion of rentals representative of an implicit interest factor for such rentals. |
(b) | For 2015, 2014, 2013, 2012 and 2011 interest expense excludes $(16) million, $(33) million, $(4) million, $32 million and $67 million of purchase accounting adjustments. |