Exhibit 12.1
STAR GAS PARTNERS, L.P.
STATEMENT OF COMPUTATION OF EARNINGS TO FIXED CHARGES
(In Thousands of Dollars, Except Ratio)
| Year Ended September 30 | ||||||||||||||||||||
| 2010(1) | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
| Earnings: |
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| Income (loss) before income taxes |
$ | 43,952 | $ | 73,441 | $ | (12,842 | ) | $ | 41,304 | $ | (53,442 | ) | ||||||||
| Add: |
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| Interest expense |
14,326 | 17,842 | 20,691 | 20,448 | 26,288 | |||||||||||||||
| Debt issuance amortization |
2,680 | 2,750 | 2,339 | 2,282 | 2,438 | |||||||||||||||
| Interest component of rent expense (2) |
4,426 | 5,278 | 4,626 | 4,418 | 4,458 | |||||||||||||||
| $ | 65,384 | $ | 99,311 | $ | 14,814 | $ | 68,452 | $ | (20,258 | ) | ||||||||||
| Fixed charges: |
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| Interest expense |
$ | 14,326 | $ | 17,842 | $ | 20,691 | $ | 20,448 | $ | 26,288 | ||||||||||
| Debt issuance amortization |
2,680 | 2,750 | 2,339 | 2,282 | 2,438 | |||||||||||||||
| Interest component of rent expense (2) |
4,426 | 5,278 | 4,626 | 4,418 | 4,458 | |||||||||||||||
| $ | 21,432 | $ | 25,870 | $ | 27,656 | $ | 27,148 | $ | 33,184 | |||||||||||
| Ratio(3) |
3.1 | 3.8 | * | 2.5 | * | |||||||||||||||
| (1) | The following computation for the year ended September 30, 2010, reflect, on a pro-forma basis, earnings available for fixed charges, fixed charges and resultant ratios. The computation give effect to the sale of the 8.875% Senior Notes. |
(Amounts in 000’s, except ratio)
| 2010 | ||||
| Income as adjusted |
$ | 65,384 | ||
| Fixed charges |
$ | 21,432 | ||
| Pro-forma adjustments |
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| Net increases in interest resulting from the substitution of proceeds from sale of the 8.875% |
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| Senior Notes for the 10.25% Senior Notes |
2,729 | |||
| Pro-forma fixed charges |
$ | 24,161 | ||
| Pro-forma ratio of earnings to fixed charges |
2.71 | |||
| (2) | One third of rent is the portion deemed representative of the interest component. |
| (3) | Ratio is less than 1:1. Deficiency is $12.8 million and $53.4 million for the fiscal years ended September 30, 2008 and 2006, respectively. |