Exhibit 12.1
Lehigh Gas Partners LP
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
Predecessor | Lehigh Gas Partners LP | |||||||||||||||||||||||||||||
Year Ended December 31, | January 1 to October 30, 2012 | October 31, to December 31, 2012 | Six Months ended June 30, 2013 | |||||||||||||||||||||||||||
2008 | 2009 | 2010 | 2011 | |||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 4,840 | $ | 5,767 | $ | 1,569 | $ | 10,689 | $ | 2,805 | $ | (1,014 | ) | $ | 9,889 | |||||||||||||||
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Plus Fixed Charges: | ||||||||||||||||||||||||||||||
Interest Expense | $ | 10,046 | $ | 10,759 | $ | 13,271 | $ | 12,150 | $ | 11,134 | $ | 2,355 | $ | 5,551 | ||||||||||||||||
Capitalized Interest | — | — | — | — | — | — | — | |||||||||||||||||||||||
Portion of rent expense representative of interest expense | — | — | — | — | — | — | — | |||||||||||||||||||||||
Plus income from equity investee | — | — | — | — | — | — | — | |||||||||||||||||||||||
Plus amortization of capitalized interest | — | — | — | — | — | — | — | |||||||||||||||||||||||
Less capitalized interest | — | — | — | — | — | — | — | |||||||||||||||||||||||
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Adjusted earnings | $ | 14,886 | $ | 16,526 | $ | 14,840 | $ | 22,839 | $ | 13,939 | $ | 1,341 | $ | 15,440 | ||||||||||||||||
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Fixed charges | $ | 10,046 | $ | 10,759 | $ | 13,271 | $ | 12,150 | $ | 11,134 | $ | 2,355 | $ | 5,551 | ||||||||||||||||
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Ratio of earnings to fixed charges | 1.48 | 1.54 | 1.12 | 1.88 | 1.25 | 0.57 | 2.78 | |||||||||||||||||||||||
Deficiency of earnings to cover fixed charges | — | — | — | — | — | $ | 1,014 | — |