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Global Partners LP(a)
Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
| | Year Ended December 31, | | | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | October 4 through December 31, 2005 | January 1 through October 3, 2005 | |||||||||||||||||
| | 2009 | 2008 | 2007 | 2006 | |||||||||||||||
Income before income taxes | $ | 35,563 | $ | 22,207 | $ | 48,204 | $ | 35,127 | $ | 10,394 | $ | 8,693 | |||||||
Interest expense and amortized fees | 16,358 | 21,736 | 17,872 | 12,305 | 3,078 | 7,495 | |||||||||||||
Interest portion of rental expense | 530 | 840 | 1,320 | 1,093 | 233 | 603 | |||||||||||||
Earnings | $ | 52,451 | $ | 44,783 | $ | 67,396 | $ | 48,525 | $ | 13,705 | $ | 16,791 | |||||||
Interest expense and amortized fees | $ | 16,358 | $ | 21,736 | $ | 17,872 | $ | 12,305 | $ | 3,078 | $ | 7,495 | |||||||
Interest portion of rental expense | 530 | 840 | 1,320 | 1,093 | 233 | 603 | |||||||||||||
Fixed charges | $ | 16,888 | $ | 22,576 | $ | 19,192 | $ | 13,398 | $ | 3,311 | $ | 8,098 | |||||||
Ratio of earnings to fixed charges(b) | 3.11 | 1.98 | 3.51 | 3.62 | 4.14 | 2.07 | |||||||||||||
- (a)
- The period from January 1, 2005 through October 3, 2005 reflects the business of Global Companies LLC and its affiliates, Glen Hes Corp., Global Montello Group LLC and Chelsea Sandwich LLC. Periods after October 4, 2005 reflect the business of Global Partners LP and its subsidiaries.
- (b)
- We calculated the ratio of earnings to fixed charges by dividing earnings by fixed charges. Earnings consist of income from continuing operations before income taxes, plus fixed charges. Fixed charges consist of (i) interest expense, (ii) amortization of deferred financing fees and (iii) the portion of rental expense we deem to be representative of the interest factor in rent expense.
Global Partners LP(a) Ratio of Earnings to Fixed Charges (Dollars in Thousands)