Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - TravelCenters of America Inc. /MD/ | a2018063010q.htm |
| EX-10.4 - EXHIBIT 10.4 - TravelCenters of America Inc. /MD/ | a20180630ex104.htm |
| EX-31.2 - EXHIBIT 31.2 - TravelCenters of America Inc. /MD/ | a20180630ex312.htm |
| EX-31.1 - EXHIBIT 31.1 - TravelCenters of America Inc. /MD/ | a20180630ex311.htm |
| EX-10.3 - EXHIBIT 10.3 - TravelCenters of America Inc. /MD/ | a20180630ex103.htm |
| EX-32.1 - EXHIBIT 32.1 - TravelCenters of America Inc. /MD/ | a20180630ex321.htm |
Exhibit 12.1
TravelCenters of America LLC
Statement of Computation of Ratio of Earnings to Fixed Charges
Six Months Ended June 30, 2018 | Years Ended December 31, | ||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||
(in thousands, except ratio amounts) | |||||||||||||||||||||||
(Loss) income before income taxes, (loss) income from equity investees and noncontrolling interests(3) | $ | (55,475 | ) | $ | (76,081 | ) | $ | (9,036 | ) | $ | 40,202 | $ | 95,768 | $ | 2,331 | ||||||||
Distributions received from equity investees | — | 4,800 | 3,000 | 4,800 | — | — | |||||||||||||||||
Fixed charges | 62,596 | 123,381 | 118,248 | 106,344 | 93,101 | 90,880 | |||||||||||||||||
Amortization of capitalized interest | 76 | 136 | 90 | 30 | 41 | 31 | |||||||||||||||||
Capitalized interest | (92 | ) | (510 | ) | (2,377 | ) | (1,797 | ) | (755 | ) | (1,033 | ) | |||||||||||
Total earnings | $ | 7,105 | $ | 51,726 | $ | 109,925 | $ | 149,579 | $ | 188,155 | $ | 92,209 | |||||||||||
Interest expense(1) | $ | 15,148 | $ | 30,495 | $ | 28,438 | $ | 24,425 | $ | 17,241 | $ | 17,650 | |||||||||||
Estimated interest within real estate rent expense(2) | 47,356 | 92,376 | 87,433 | 80,122 | 75,105 | 72,197 | |||||||||||||||||
Capitalized interest | 92 | 510 | 2,377 | 1,797 | 755 | 1,033 | |||||||||||||||||
Total fixed charges | $ | 62,596 | $ | 123,381 | $ | 118,248 | $ | 106,344 | $ | 93,101 | $ | 90,880 | |||||||||||
Ratio of earnings to fixed charges | 0.11 | 0.42 | 0.93 | 1.41 | 2.02 | 1.01 | |||||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (55,491 | ) | $ | (71,655 | ) | $ | (8,323 | ) | $ N/A | $ N/A | $ N/A | |||||||||||
(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. |
(3) | As of January 1, 2018, ASU 2014-09 was adopted using the full retrospective method, which required us to restate our consolidated financial statements for the years ended December 31, 2017 and 2016. The years ended December 31, 2015, 2014 and 2013, were not restated in accordance with ASC 606. |