Exhibit 12.1
GETTY REALTY CORP.
STATEMENT OF COMPUTATION OF EARNINGS TO FIXED CHARGES
(in thousands)
Nine Months Ended September 30, 2014 | 2013 | 2012 | 2011 | 2010 (1) | 2009 (1) | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Earnings from continued operations before income taxes | $ | 23,475 | $ | 27,667 | $ | 13,513 | $ | 8,888 | $ | 33,162 | $ | 27,298 | ||||||||||||
Add fixed charges: | ||||||||||||||||||||||||
Interest expense | 7,430 | 11,667 | 9,931 | 5,125 | 5,050 | 5,091 | ||||||||||||||||||
Portion of rents representative of the interest factor | 1,519 | 2,364 | 2,634 | 2,670 | 2,336 | 2,441 | ||||||||||||||||||
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Total fixed charges | 8,949 | 14,031 | 12,565 | 7,795 | 7,386 | 7,532 | ||||||||||||||||||
Earnings | $ | 30,905 | $ | 39,334 | $ | 23,444 | $ | 14,013 | $ | 38,212 | $ | 32,389 | ||||||||||||
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Total fixed charges | $ | 8,949 | $ | 14,031 | $ | 12,565 | $ | 7,795 | $ | 7,386 | $ | 7,532 | ||||||||||||
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Ratio of earnings to fixed charges | 3.45x | 2.80x | 1.87x | 1.80x | 5.17x | 4.30x |
(1) | The ratio of earnings to fixed charges for the years ended December 31, 2010 and 2009 has been changed from our priorForm S-3 registration statement, filed by the Registrant with the SEC on May 12, 2011, to reflect the interest component of rental expense. |