Exhibit 12.1
TravelCenters of America LLC
Statement of Computation of Ratio of Earnings to Fixed Charges
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| Years Ended December 31, |
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| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
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| (in thousands, except ratio amounts) |
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(Loss) income before income taxes, income from equity investees and noncontrolling interests |
| $ | (76,133 | ) | $ | (8,206 | ) | $ | 40,202 |
| $ | 95,768 |
| $ | 2,331 |
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Distributions received from equity investees |
| 4,800 |
| 3,000 |
| 4,800 |
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| — |
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Fixed charges |
| 123,381 |
| 118,248 |
| 106,344 |
| 93,101 |
| 90,880 |
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Amortization of capitalized interest |
| 136 |
| 90 |
| 30 |
| 41 |
| 31 |
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Capitalized interest |
| (510 | ) | (2,377 | ) | (1,797 | ) | (755 | ) | (1,033 | ) | |||||
Total earnings |
| $ | 51,674 |
| $ | 110,755 |
| $ | 149,579 |
| $ | 188,155 |
| $ | 92,209 |
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Interest expense(1) |
| $ | 30,495 |
| $ | 28,438 |
| $ | 24,425 |
| $ | 17,241 |
| $ | 17,650 |
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Estimated interest within real estate rent expense(2) |
| 92,376 |
| 87,433 |
| 80,122 |
| 75,105 |
| 72,197 |
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Capitalized interest |
| 510 |
| 2,377 |
| 1,797 |
| 755 |
| 1,033 |
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Total fixed charges |
| $ | 123,381 |
| $ | 118,248 |
| $ | 106,344 |
| $ | 93,101 |
| $ | 90,880 |
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Ratio of earnings to fixed charges |
| 0.42 |
| 0.94 |
| 1.41 |
| 2.02 |
| 1.01 |
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Deficiency of earnings available to cover fixed charges |
| $ | (71,707 | ) | $ | (7,493 | ) | $ | N/A |
| $ | N/A |
| $ | N/A |
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(1) Includes interest expense and amortization of premiums and discounts related to indebtedness.
(2) Estimated interest within real estate rent expense includes one third of real estate rent expense, which approximates the interest component of our operating leases.
