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 | ||||||||||||||||||
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Total earnings available for fixed charges | 27,432 | 35,100 | 77,437 | 53,897 | 83,559 | 65,714 | ||||||||||||||||||
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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 | ||||||||||||||||||
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Total fixed charges | 31,808 | 25,576 | 50,623 | 50,177 | 78,053 | 27,839 | ||||||||||||||||||
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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. |