EX-12.1 6 a13-24322_1ex12d1.htm EX-12.1

Exhibit 12.1

 

SUSSER PETROLEUM PARTNERS LP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratios)

 

 

 

Nine Months
Ended
September 30,

 

For the Year Ended December 31,

 

 

 

2013(1)

 

2012(2)

 

2011(3)

 

2010(3)

 

2009(3)

 

2008(3)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

27,802

 

$

22,603

 

$

16,637

 

$

14,452

 

$

13,345

 

$

19,095

 

Amortization of capitalized interest

 

—

 

—

 

—

 

—

 

—

 

—

 

Fixed charges

 

2,827

 

2,070

 

1,672

 

1,439

 

769

 

400

 

Capitalized interest

 

—

 

—

 

—

 

—

 

—

 

—

 

Total earnings

 

30,629

 

24,673

 

18,309

 

15,891

 

14,114

 

19,495

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net of capitalized interest

 

2,318

 

940

 

412

 

332

 

309

 

97

 

Capitalized interest

 

—

 

—

 

—

 

—

 

—

 

—

 

Amortization of debt issuance costs

 

286

 

102

 

—

 

—

 

—

 

—

 

Implicit interest in rents

 

223

 

1,028

 

1,260

 

1,107

 

460

 

303

 

Total fixed charges

 

2,827

 

2,070

 

1,672

 

1,439

 

769

 

400

 

Ratio of earnings to fixed charges

 

10.83

 

11.92

 

10.95

 

11.05

 

18.36

 

48.76

 

 

(1)         Ratio represents our activity.

(2)         Ratio represents our predecessor’s activity prior to September 25, 2012, and our activity beginning September 25, 2012.

(3)         Ratio represents our predecessor’s activity

 

For purposes of calculating the ratio of consolidated earnings to fixed charges:

 

·                  “earnings” is the aggregate of the following items: pre-tax income or loss; plus fixed charges; plus amortization of capitalized interest; and less capitalized interest; and

 

·                  “fixed charges” means the sum of the following: interest expensed and capitalized; amortized premiums, discounts and capitalized expenses related to indebtedness; and an estimate of the interest within rental expense. Fixed charges are not reduced by any allowance for funds used during construction.