Exhibit 12.1
TravelCenters of America LLC
Statement of Computation of Ratio of Earnings to Fixed Charges
| Six Months Ended June 30, 2016 | Years Ended December 31, | ||||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||
| (in thousands, except ratio amounts) | |||||||||||||||||||||||
(Loss) income before income taxes, income from equity investees and noncontrolling interest | $ | (12,089 | ) | $ | 40,202 | $ | 95,768 | $ | 2,331 | $ | 31,812 | $ | 23,784 | ||||||||||
Distributions received from equity investees | — | — | — | — | 4,800 | — | |||||||||||||||||
| Fixed charges | 58,204 | 106,344 | 93,101 | 90,880 | 79,161 | 75,471 | |||||||||||||||||
| Amortization of capitalized interest | 30 | 30 | 41 | 31 | — | — | |||||||||||||||||
| Capitalized interest | (1,536 | ) | (1,797 | ) | (755 | ) | (1,033 | ) | — | — | |||||||||||||
| Total Earnings | $ | 44,609 | $ | 144,779 | $ | 188,155 | $ | 92,209 | $ | 115,773 | $ | 99,255 | |||||||||||
Interest expense(1) | $ | 13,913 | $ | 24,425 | $ | 17,241 | $ | 17,650 | $ | 10,358 | $ | 9,005 | |||||||||||
Estimated interest within rent expense(2) | 42,755 | 80,122 | 75,105 | 72,197 | 68,803 | 66,466 | |||||||||||||||||
| Capitalized interest | 1,536 | 1,797 | 755 | 1,033 | — | — | |||||||||||||||||
| Total fixed charges | $ | 58,204 | $ | 106,344 | $ | 93,101 | $ | 90,880 | $ | 79,161 | $ | 75,471 | |||||||||||
| Ratio of earnings to fixed charges | 0.77 | 1.36 | 2.02 | 1.01 | 1.46 | 1.32 | |||||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (13,595 | ) | $ N/A | $ N/A | $ N/A | $ N/A | $ N/A | |||||||||||||||
(1) | Includes interest expense and amortization of premiums and discounts related to indebtedness. |
(2) | Estimated interest within rent expense includes one third of rental expense, which approximates the interest component of operating leases. |