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SEC Filings
S-4/A
SUSSER HOLDINGS CORP filed this Form S-4/A on 08/16/2016
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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,      Six Months
Ended
 
     2012      2013      2014(1)      2015      June 30,
2016
 

Earnings:

              

Consolidated pretax income from continuing operations

   $ 22,603       $ 37,467       $ 49,327       $ 245,758       $ 216,002   

Noncontrolling interest

              

Fixed charges

     1,968         3,660         28,144         134,449         101,824   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total earnings available for fixed charges

   $ 24,571       $ 41,127       $ 77,471       $ 380,207       $ 317,826   

Fixed Charges:

              

Interest expense

   $ 940       $ 3,356       $ 13,580       $ 86,824       $ 78,122   

Capitalized interest

     —           —           284         1,008         670   

Estimated interest portion of rent expense

     1,028         304         14,280         46,617         23,032   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total fixed charges

   $ 1,968       $ 3,660       $ 28,144       $ 134,449       $ 101,824   

Ratio of earnings to fixed charges

     12.49x         11.24x         2.75x         2.83x         3.12x   

 

(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.
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