Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
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| Company |
| Predecessor |
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| Years Ended December 31, |
| Eleven Months |
| One Month |
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| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007(1) |
| 2007 |
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| (in thousands, except ratio amounts) |
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Pre-tax income (loss) from continuing operations |
| $ | 24,953 |
| $ | (65,803 | ) | $ | (93,977 | ) | $ | (41,878 | ) | $ | (104,722 | ) | $ | (62,518 | ) |
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Income from equity investees |
| (1,169 | ) | (757 | ) | (386 | ) | (1,383 | ) | (887 | ) | — |
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Fixed charges |
| 75,471 |
| 106,603 |
| 96,350 |
| 94,309 |
| 81,547 |
| 5,819 |
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Amortization of capitalized interest |
| — |
| — |
| — |
| — |
| — |
| 7 |
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Capitalized interest |
| — |
| — |
| — |
| — |
| — |
| — |
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Total earnings |
| $ | 99,255 |
| $ | 40,043 |
| $ | 1,987 |
| $ | 51,048 |
| $ | (24,062 | ) | $ | (56,692 | ) |
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Interest expense(2) |
| $ | 9,005 |
| $ | 25,653 |
| $ | 15,440 |
| $ | 13,801 |
| $ | 16,038 |
| $ | 5,345 |
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Estimated interest within rent expense(3) |
| 66,466 |
| 80,950 |
| 80,910 |
| 80,508 |
| 65,509 |
| 474 |
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Capitalized interest |
| — |
| — |
| — |
| — |
| — |
| — |
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Total fixed charges |
| $ | 75,471 |
| $ | 106,603 |
| $ | 96,350 |
| $ | 94,309 |
| $ | 81,547 |
| $ | 5,819 |
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Ratio of earnings to fixed charges |
| 1.32 |
| N/A |
| N/A |
| N/A |
| N/A |
| N/A |
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Deficiency of earnings available to cover fixed charges |
| $ | N/A |
| $ | (66,560 | ) | $ | (94,363 | ) | $ | (43,261 | ) | $ | (105,609 | ) | $ | (62,511 | ) |
(1) Includes the operating results of Petro Stopping Centers, L.P., which has since been merged with TA Operating LLC, since our acquisition of Petro Stopping Centers, L.P., which was completed on May 30, 2007.
(2) Includes interest expense and amortization of premiums, discounts and capitalized expenses related to indebtedness.
(3) Estimated interest within rent expense includes one-third of rental expense, which approximates the interest component of operating leases.
