Exhibit 12.1
Susser Holdings Corporation (Consolidated)
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| Fiscal Year Ended | Three Months Ended April 4, 2010 | |||||||||||||||||
| January 1, 2006 | December 31, 2006 | December 30, 2007 | December 28, 2008 | January 3, 2010 | ||||||||||||||
Earnings: | ||||||||||||||||||
Consolidated pretax income (loss) from continuing operations | (20,642 | ) | (3,698 | ) | 10,499 | 26,873 | 3,873 | (8,003 | ) | |||||||||
Minority interest in income of consolidated subsidiaries | 76 | 61 | 42 | 48 | 39 | 11 | ||||||||||||
Loss (income) on equity investments | — | (442 | ) | (512 | ) | (5 | ) | |||||||||||
Fixed charges | 22,104 | 31,808 | 24,881 | 50,623 | 50,177 | 12,957 | ||||||||||||
Capitalized interest | (275 | ) | (346 | ) | (550 | ) | (170 | ) | (266 | ) | (41 | ) | ||||||
Amortization of capitalized interest | 11 | 48 | 45 | 63 | 74 | 81 | ||||||||||||
Total earnings available for fixed charges | 1,274 | 27,432 | 34,405 | 77,437 | 53,897 | 5,000 | ||||||||||||
Fixed Charges: | ||||||||||||||||||
Interest expense | 18,397 | 23,426 | 15,677 | 36,545 | 35,098 | 9,116 | ||||||||||||
Capitalized interest | 275 | 346 | 550 | 170 | 266 | 41 | ||||||||||||
Estimated interest portion of rent expense | 3,093 | 7,207 | 8,201 | 10,995 | 11,719 | 3,192 | ||||||||||||
Amortization of debt issue costs and premiums | 339 | 829 | 1,148 | 2,913 | 3,095 | 607 | ||||||||||||
Total fixed charges | 22,104 | 31,808 | 25,576 | 50,623 | 50,177 | 12,957 | ||||||||||||
Ratio of earnings to fixed charges | (a | ) | (a | ) | 1.37 | 1.53 | 1.07 | (a | ) | |||||||||
Notes:
| (a) | Earnings for the years ended January 1, 2006 and December 30, 2006 and for the three months ended April 4, 2010 were inadequate to cover fixed charges. The deficiencies were $20.8 million, $4.4 million and $8.0 million, respectively. Included in the fiscal 2005 results is $17.3 million of compensation expense recognized for options redeemed related to our December 2005 recapitalization. |
