EX-12.1 2 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 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     Nine Months Ended
September 27, 2009		  
     January 2,
2005		     January 1,
2006		     December 31,
2006		     December 30,
2007		     December 28,
2008		    

Earnings:

             

Consolidated pretax income (loss) from continuing operations

    6,047      (20,642 )    (3,698 )    10,499      26,873      13,196   

Minority interest in income of consolidated subsidiaries

    64      76      61      42      48      —     

Loss (income) on equity investments

    (55 )    —        (442 )    (512 )      —     

Fixed charges

    18,742      22,104      31,808      24,881      50,623      37,448   

Capitalized interest

    —        (275 )    (346 )    (550 )    (170 )    (209 ) 

Amortization of capitalized interest

    4      11      48      45      63      80   
                                    

Total earnings available for fixed charges

    24,802      1,274      27,432      34,405      77,437      50,515   
                                    

Fixed Charges:

             

Interest expense

    15,615      18,397      23,426      15,677      36,545      26,285   

Capitalized interest

    —        275      346      550      170      209   

Estimated interest portion of rent expense

    2,748      3,093      7,207      8,201      10,995      8,631   

Amortization of debt issue costs and premiums

    379      339      829      1,148      2,913      2,324   
                                    

Total fixed charges

    18,742      22,104      31,808      25,576      50,623      37,449   
                                    

Ratio of earnings to fixed charges

    1.32      (a )    (a )    1.37      1.53      1.35   

 

Notes:

 

(a) Earnings for the years ended January 1, 2006 and December 30, 2006 were inadequate to cover fixed charges. The deficiencies were $20.8 million and $4.4 million, respectively. Included in the fiscal 2005 results is $17.3 million of compensation expense recognized for options redeemed related to our December 2005 recapitalization.