EX-12.1 8 d205194dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES OF SUNOCO LP

(in thousands, except ratios)

(Unaudited)

On October 1, 2014, we acquired 100% of the membership interests of MACS. On April 1, 2015, we acquired a 31.58% membership interest and a 50.1% voting interest in Sunoco LLC. On July 31, 2015, we acquired 100% of the issued and outstanding shares of capital stock of Susser Holdings Corporation (“Susser”). Finally, on March 31, 2016, we acquired the remaining 68.42% membership interest and 49.9% voting interest in Sunoco LLC as well as 100% of the issued and outstanding membership interest in Sunoco Retail. Results of operations for the MACS, Sunoco LLC, Susser and Sunoco Retail acquisitions have been deemed transactions between entities under common control, and accordingly, have been included in our consolidated results of operations since September 1, 2014, the date of common control.

The following table set forth our ratios of earnings to fixed charges for the periods presented:

 

     Year Ended December 31,      Three Months
Ended
 
     2012      2013      2014(1)      2015      March 31,
2016
 

Earnings:

              

Consolidated pretax income from continuing operations

   $ 22,603       $ 37,467       $ 49,327       $ 245,758       $ 64,121   

Noncontrolling interest

              

Fixed charges

     1,968         3,660         28,144         134,449         38,668   

Amortization of capitalized interest

     —           —           —           —           —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total earnings available for fixed charges

   $ 24,571       $ 41,127       $ 77,471       $ 380,207       $ 102,789   

Fixed Charges:

              

Interest expense

   $ 940       $ 3,356       $ 13,580       $ 86,824       $ 27,288   

Capitalized interest

     —           —           284         1,008         227   

Estimated interest portion of rent expense

     1,028         304         14,280         46,617         11,153   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total fixed charges

   $ 1,968       $ 3,660       $ 28,144       $ 134,449       $ 38,668   

Ratio of earnings to fixed charges

     12.49         11.24         2.75         2.83         2.66   

 

(1) For the year ended December 31, 2014, we have combined the Predecessor Period and the Successor Period and presented the unaudited financial data on a combined basis for comparative purposes.