EX-12.1 2 d240819dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Susser Holdings Corporation (Consolidated)

Statement Regarding Computation of Ratio of Earnings to Fixed Charges

(in thousands, except ratios)

 

     Fiscal Year Ended     Six Months Ended  
     December 31,
2006
    December 30,
2007
    December 28,
2008
    January 3,
2010
    January 2,
2011
    July 3,
2011
 

Earnings:

            

Consolidated pretax income (loss) from continuing operations

     (3,698 )     10,499        26,873        3,873        5,780        38,184   

Minority interest in income of consolidated subsidiaries

     61        42        48        39        3        2   

Loss (income) on equity investments

     (442 )     (512 )        

Fixed charges

     31,808        25,576        50,623        50,177        78,053        27,839   

Capitalized interest

     (346 )     (550 )     (170 )     (266 )     (366     (415

Amortization of capitalized interest

     48        45        63        74        89        104   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings available for fixed charges

     27,432        35,100        77,437        53,897        83,559        65,714   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges:

            

Interest expense

     23,426        15,677        36,545        35,098        55,674 (b)      18,585   

Capitalized interest

     346        550        170        266        366        415   

Estimated interest portion of rent expense

     7,207        8,201        10,995        11,719        13,537        7,206   

Amortization of debt issue costs and premiums

     829        1,148        2,913        3,095        8,476        1,633   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     31,808        25,576        50,623        50,177        78,053        27,839   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     (a )     1.37        1.53        1.07        1.07        2.36   

 

Notes:

(a) Earnings for the year ended December 30, 2006 were inadequate to cover fixed charges. The deficiency was $4.4 million.
(b) Interest expense for the year ended January 2, 2011, included $24.2 million of non-recurring charges related to the refinancing of senior unsecured notes completed in May 2010.