EX-12.1 2 a15-7223_1ex12d1.htm EX-12.1

Exhibit 12.1

 

TravelCenters of America LLC

 

Statement of Computation of Ratio of Earnings to Fixed Charges

 

 

 

Three Months
Ended
March 31,

 

Years Ended December 31,

 

 

 

2015

 

2014

 

2013

 

2012

 

2011

 

2010

 

 

 

(in thousands, except ratio amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes and income from equity investees

 

$

25,424

 

$

95,768

 

$

2,331

 

$

31,812

 

$

23,784

 

$

(66,560

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Distributions received from equity investees

 

 

 

 

4,800

 

 

960

 

Fixed charges

 

25,868

 

93,101

 

90,880

 

79,161

 

75,471

 

106,603

 

Amortization of capitalized interest

 

11

 

41

 

31

 

 

 

 

Capitalized interest

 

(216

)

(755

)

(1,033

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings

 

$

51,087

 

$

188,155

 

$

92,209

 

$

115,773

 

$

99,255

 

$

41,003

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense(1)

 

$

6,427

 

$

17,241

 

$

17,650

 

$

10,358

 

$

9,005

 

$

25,653

 

Estimated interest within rent expense(2)

 

19,225

 

75,105

 

72,197

 

68,803

 

66,466

 

80,950

 

Capitalized interest

 

216

 

755

 

1,033

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

25,868

 

$

93,101

 

$

90,880

 

$

79,161

 

$

75,471

 

$

106,603

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

1.97

 

2.02

 

1.01

 

1.46

 

1.32

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deficiency of earnings available to cover fixed charges

 

$

N/A

 

$

N/A

 

$

N/A

 

$

N/A

 

$

N/A

 

$

(65,600

)

 


(1)                Includes interest expense and amortization of premiums and discounts related to indebtedness.

 

(2)                Estimated interest within rent expense includes one third of rental expense, which approximates the interest component of operating leases.