EX-12 3 subprs3ex1211015.txt EX. 12.1 Exhibit 12.1 Statement of Computation of Ratio of Earnings to Fixed Charges -------------------------------------------------------------------------------- Suburban Propane Partners, L.P. Computation of the Ratio of Earnings to Fixed Charges (Dollars in thousands)
Fiscal Year Fiscal Year Fiscal Year Fiscal Year Ended Ended Ended Ended 9/26/1998 9/25/1999 9/30/2000 9/29/2001 ------------------------------------------------------------------ ---------------- --------------- -------------- --------------- ------------------------------------------------------------------ ---------------- --------------- -------------- --------------- Income Before Provision for Income Taxes $ 38,200 $ 22,507 $ 38,766 $ 53,885 Fixed Charges: Interest Expense (including amortization of debt issue costs) 33,161 33,288 42,703 40,010 Rental Expense 5,458 5,791 6,368 7,785 Total Fixed Charges 38,619 39,079 49,071 47,795 Income Before Provision for Income Taxes plus Fixed Charges $ 76,819 $ 61,586 $ 87,837 $ 101,680 Ratio of Earnings to Fixed Charges (a) 1.99x 1.58x 1.79x 2.13x Fiscal Year Nine Months Ended Ended 9/28/2002 6/28/2003 ------------------------------------------------------------------ -------------- ---------------- ------------------------------------------------------------------ -------------- ---------------- Income Before Provision for Income Taxes $ 54,227 $ 67,245 Fixed Charges: Interest Expense (including amortization of debt issue costs) 35,925 26,501 Rental Expense 8,002 6,113 Total Fixed Charges 43,927 32,614 Income Before Provision for Income Taxes plus Fixed Charges $ 98,154 $ 99,859 Ratio of Earnings to Fixed Charges (a) 2.23x 3.06x
(a) For purposes of determining the ratio of earnings to fixed charges, earnings are defined as income from continuing operations before income taxes plus fixed charges. Fixed charges consist of interest expense, including amortization of debt issuance costs and that portion of rental expenses on operating leases that management considers to be a reasonable approximation of interest.