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Statement of Computation of Ratio of Earnings to Fixed Charges
| Company | Predecessor | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended December 31, | | | Year Ended December 31, | |||||||||||||||
| Eleven Months Ended December 31, 2007(3) | One Month Ended January 31, 2007 | |||||||||||||||||
| 2009 | 2008 | 2006 | 2005(4) | |||||||||||||||
| (in 000's, except ratio amounts) | ||||||||||||||||||
Pre-tax income (loss) from continuing operations | $ | (88,973 | ) | $ | (39,466 | ) | $ | (102,002 | ) | $ | (62,518 | ) | $ | 49,310 | $ | 214 | |||
Income from equity investees | 386 | 1,383 | 887 | — | — | — | |||||||||||||
Fixed charges | 95,384 | 93,507 | 80,929 | 5,819 | 55,842 | 54,769 | |||||||||||||
Amortization of capitalized interest | — | — | — | 7 | 24 | — | |||||||||||||
Capitalized interest | — | — | — | — | (515 | ) | (312 | ) | |||||||||||
Total earnings | $ | 6,025 | $ | 52,658 | $ | (21,960 | ) | $ | (56,692 | ) | $ | 105,691 | $ | 55,295 | |||||
Interest expense(1) | $ | 14,474 | $ | 12,999 | $ | 15,420 | $ | 5,345 | $ | 49,637 | $ | 49,097 | |||||||
Estimated interest within rent expense(2) | 80,910 | 80,508 | 65,509 | 474 | 5,690 | 5,360 | |||||||||||||
Capitalized interest | — | — | — | — | 515 | 312 | |||||||||||||
Total fixed charges | $ | 95,384 | $ | 93,507 | $ | 80,929 | $ | 5,819 | $ | 55,842 | $ | 54,769 | |||||||
Ratio of earnings to fixed charges | — | — | — | — | 1.89 | 1.01 | |||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (89,359 | ) | $ | (40,849 | ) | $ | (102,889 | ) | $ | (62,511 | ) | $ | — | $ | — |
- (1)
- Includes interest expense and amortization of premiums, discounts and capitalized expenses related to indebtedness.
- (2)
- Estimated interest within rent expense includes one-third of rental expense, which approximates the interest component of operating leases.
- (3)
- Includes the operating results of Petro Stopping Centers, L.P. since our acquisition of Petro Stopping Centers, L.P., which was completed on May 30, 2007.
- (4)
- In connection with a refinancing our predecessor completed during 2005, our predecessor recognized expenses of $39.6 million.
Statement of Computation of Ratio of Earnings to Fixed Charges