EX-12.1 6 a2197535zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


Global Partners LP(a)
Ratio of Earnings to Fixed Charges
(Dollars in Thousands)

 
 



Year Ended December 31,
   
   
 
 
  October 4
through
December 31,
2005
  January 1
through
October 3,
2005
 
 
  2009   2008   2007   2006  

Income before income taxes

  $ 35,563   $ 22,207   $ 48,204   $ 35,127   $ 10,394   $ 8,693  

Interest expense and amortized fees

    16,358     21,736     17,872     12,305     3,078     7,495  

Interest portion of rental expense

    530     840     1,320     1,093     233     603  
                           

Earnings

  $ 52,451   $ 44,783   $ 67,396   $ 48,525   $ 13,705   $ 16,791  
                           

Interest expense and amortized fees

  $ 16,358   $ 21,736   $ 17,872   $ 12,305   $ 3,078   $ 7,495  

Interest portion of rental expense

    530     840     1,320     1,093     233     603  
                           

Fixed charges

  $ 16,888   $ 22,576   $ 19,192   $ 13,398   $ 3,311   $ 8,098  
                           

Ratio of earnings to fixed charges(b)

    3.11     1.98     3.51     3.62     4.14     2.07  
                           

(a)
The period from January 1, 2005 through October 3, 2005 reflects the business of Global Companies LLC and its affiliates, Glen Hes Corp., Global Montello Group LLC and Chelsea Sandwich LLC. Periods after October 4, 2005 reflect the business of Global Partners LP and its subsidiaries.

(b)
We calculated the ratio of earnings to fixed charges by dividing earnings by fixed charges. Earnings consist of income from continuing operations before income taxes, plus fixed charges. Fixed charges consist of (i) interest expense, (ii) amortization of deferred financing fees and (iii) the portion of rental expense we deem to be representative of the interest factor in rent expense.



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Global Partners LP(a) Ratio of Earnings to Fixed Charges (Dollars in Thousands)