Exhibit 12.1
Susser Holdings Corporation (Consolidated)
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Fiscal Year Ended | | | Six Months Ended | |
| | December 31, 2006 | | | December 30, 2007 | | | December 28, 2008 | | | January 3, 2010 | | | January 2, 2011 | | | July 3, 2011 | |
Earnings: | | | | | | | | | | | | | | | | | | | | | | | | |
Consolidated pretax income (loss) from continuing operations | | | (3,698 | ) | | | 10,499 | | | | 26,873 | | | | 3,873 | | | | 5,780 | | | | 38,184 | |
Minority interest in income of consolidated subsidiaries | | | 61 | | | | 42 | | | | 48 | | | | 39 | | | | 3 | | | | 2 | |
Loss (income) on equity investments | | | (442 | ) | | | (512 | ) | | | | | | | | | | | | | | | | |
Fixed charges | | | 31,808 | | | | 25,576 | | | | 50,623 | | | | 50,177 | | | | 78,053 | | | | 27,839 | |
Capitalized interest | | | (346 | ) | | | (550 | ) | | | (170 | ) | | | (266 | ) | | | (366 | ) | | | (415 | ) |
Amortization of capitalized interest | | | 48 | | | | 45 | | | | 63 | | | | 74 | | | | 89 | | | | 104 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total earnings available for fixed charges | | | 27,432 | | | | 35,100 | | | | 77,437 | | | | 53,897 | | | | 83,559 | | | | 65,714 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Fixed Charges: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | | 23,426 | | | | 15,677 | | | | 36,545 | | | | 35,098 | | | | 55,674 | (b) | | | 18,585 | |
Capitalized interest | | | 346 | | | | 550 | | | | 170 | | | | 266 | | | | 366 | | | | 415 | |
Estimated interest portion of rent expense | | | 7,207 | | | | 8,201 | | | | 10,995 | | | | 11,719 | | | | 13,537 | | | | 7,206 | |
Amortization of debt issue costs and premiums | | | 829 | | | | 1,148 | | | | 2,913 | | | | 3,095 | | | | 8,476 | | | | 1,633 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total fixed charges | | | 31,808 | | | | 25,576 | | | | 50,623 | | | | 50,177 | | | | 78,053 | | | | 27,839 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Ratio of earnings to fixed charges | | | (a | ) | | | 1.37 | | | | 1.53 | | | | 1.07 | | | | 1.07 | | | | 2.36 | �� |
Notes:
(a) | Earnings for the year ended December 30, 2006 were inadequate to cover fixed charges. The deficiency was $4.4 million. |
(b) | Interest expense for the year ended January 2, 2011, included $24.2 million of non-recurring charges related to the refinancing of senior unsecured notes completed in May 2010. |