Attached files
| file | filename |
|---|---|
| 10-K - 10-K - Sprague Resources LP | srlp-20171231x10k.htm |
| EX-32.2 - EXHIBIT 32.2 - Sprague Resources LP | srlp-20171231xexx322.htm |
| EX-32.1 - EXHIBIT 32.1 - Sprague Resources LP | srlp-20171231xexx321.htm |
| EX-31.2 - EXHIBIT 31.2 - Sprague Resources LP | srlp-20171231xexx312.htm |
| EX-31.1 - EXHIBIT 31.1 - Sprague Resources LP | srlp-20171231xexx311.htm |
| EX-23.1 - EXHIBIT 23.1 - Sprague Resources LP | srlp-20171231xexx231.htm |
| EX-21.1 - EXHIBIT 21.1 - Sprague Resources LP | srlp-20171231xexx211.htm |
Exhibit 12.1
Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends (1)
Years Ended December 31, | ||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
Predecessor | ||||||||||||||||||||
($ in thousands) | ||||||||||||||||||||
Earnings (loss): | ||||||||||||||||||||
Income (loss) before income taxes | $ | 33,319 | $ | 12,274 | $ | 80,164 | $ | 128,323 | $ | (25,579 | ) | |||||||||
Add: | ||||||||||||||||||||
Interest and debt expense (2) | 31,345 | 27,533 | 27,367 | 29,651 | 30,914 | |||||||||||||||
Estimated interest factor in rental expense (3) | 4,006 | 4,380 | 4,427 | 3,473 | 2,363 | |||||||||||||||
Total earnings | $ | 68,670 | $ | 44,187 | $ | 111,958 | $ | 161,447 | $ | 7,698 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest and debt expense (2) | $ | 31,345 | $ | 27,533 | $ | 29,651 | $ | 30,914 | $ | 23,960 | ||||||||||
Estimated interest factor in rental expense (3) | 4,006 | 4,380 | 3,473 | 2,362 | 2,167 | |||||||||||||||
Total fixed changes | $ | 35,351 | $ | 31,913 | $ | 33,124 | $ | 33,276 | $ | 26,127 | ||||||||||
Ratio of Earnings to Fixed Charges (4) | 1.9 | 1.4 | 3.5 | 4.9 | - | |||||||||||||||
(1) | For each period, the ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preference dividends is the same, because we had no preference equity securities outstanding during any of the periods. |
(2) | Interest and debt expense includes amortization expense for debt costs. |
(3) | Included in fixed charges is one-fifth of rent expense as the representative portion of interest. |
(4) | For the years ended December 31, 2013, our earnings were insufficient to cover fixed charges by $25.6 million. |