EX-12.1 2 dex121.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     Three Months Ended
April 4, 2010
 
     January 1,
2006
    December 31,
2006
    December 30,
2007
    December 28,
2008
    January 3,
2010
   

Earnings:

            

Consolidated pretax income (loss) from continuing operations

   (20,642   (3,698   10,499      26,873      3,873      (8,003

Minority interest in income of consolidated subsidiaries

   76      61      42      48      39      11   

Loss (income) on equity investments

   —        (442   (512       (5

Fixed charges

   22,104      31,808      24,881      50,623      50,177      12,957   

Capitalized interest

   (275   (346   (550   (170   (266   (41

Amortization of capitalized interest

   11      48      45      63      74      81   
                                    

Total earnings available for fixed charges

   1,274      27,432      34,405      77,437      53,897      5,000   
                                    

Fixed Charges:

            

Interest expense

   18,397      23,426      15,677      36,545      35,098      9,116   

Capitalized interest

   275      346      550      170      266      41   

Estimated interest portion of rent expense

   3,093      7,207      8,201      10,995      11,719      3,192   

Amortization of debt issue costs and premiums

   339      829      1,148      2,913      3,095      607   
                                    

Total fixed charges

   22,104      31,808      25,576      50,623      50,177      12,957   
                                    

Ratio of earnings to fixed charges

   (a   (a   1.37      1.53      1.07      (a

 

Notes:

 

(a) Earnings for the years ended January 1, 2006 and December 30, 2006 and for the three months ended April 4, 2010 were inadequate to cover fixed charges. The deficiencies were $20.8 million, $4.4 million and $8.0 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.