Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - TravelCenters of America Inc. /MD/ | a20171231ex321.htm |
| EX-31.2 - EXHIBIT 31.2 - TravelCenters of America Inc. /MD/ | a20171231ex312.htm |
| EX-31.1 - EXHIBIT 31.1 - TravelCenters of America Inc. /MD/ | a20171231ex311.htm |
| EX-23.1 - EXHIBIT 23.1 - TravelCenters of America Inc. /MD/ | a20171231ex231.htm |
| EX-21.1 - EXHIBIT 21.1 - TravelCenters of America Inc. /MD/ | a20171231ex211.htm |
| 10-K - 10-K - TravelCenters of America Inc. /MD/ | a2017123110k.htm |
Exhibit 12.1
TravelCenters of America LLC
Statement of Computation of Ratio of Earnings to Fixed Charges
Years Ended December 31, | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
(in thousands, except ratio amounts) | |||||||||||||||||||
(Loss) income before income taxes, income from equity investees and noncontrolling interests | $ | (76,133 | ) | $ | (8,206 | ) | $ | 40,202 | $ | 95,768 | $ | 2,331 | |||||||
Distributions received from equity investees | 4,800 | 3,000 | 4,800 | — | — | ||||||||||||||
Fixed charges | 123,381 | 118,248 | 106,344 | 93,101 | 90,880 | ||||||||||||||
Amortization of capitalized interest | 136 | 90 | 30 | 41 | 31 | ||||||||||||||
Capitalized interest | (510 | ) | (2,377 | ) | (1,797 | ) | (755 | ) | (1,033 | ) | |||||||||
Total earnings | $ | 51,674 | $ | 110,755 | $ | 149,579 | $ | 188,155 | $ | 92,209 | |||||||||
Interest expense(1) | $ | 30,495 | $ | 28,438 | $ | 24,425 | $ | 17,241 | $ | 17,650 | |||||||||
Estimated interest within real estate rent expense(2) | 92,376 | 87,433 | 80,122 | 75,105 | 72,197 | ||||||||||||||
Capitalized interest | 510 | 2,377 | 1,797 | 755 | 1,033 | ||||||||||||||
Total fixed charges | $ | 123,381 | $ | 118,248 | $ | 106,344 | $ | 93,101 | $ | 90,880 | |||||||||
Ratio of earnings to fixed charges | 0.42 | 0.94 | 1.41 | 2.02 | 1.01 | ||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (71,707 | ) | $ | (7,493 | ) | $ N/A | $ N/A | $ N/A | ||||||||||
(1) | Includes interest expense and amortization of premiums and discounts related to indebtedness. |
(2) | Estimated interest within real estate rent expense includes one third of real estate rent expense, which approximates the interest component of our operating leases. |