Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - NuStar Energy L.P. | d10q.htm |
| EX-32.01 - SECTION 1350 CERTIFICATIONS - NuStar Energy L.P. | dex3201.htm |
| EX-31.01 - RULE 13A-14(A) CERTIFICATIONS - NuStar Energy L.P. | dex3101.htm |
Exhibit 12.01
NUSTAR ENERGY L.P.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars, Except Ratio)
| Three Months Ended March 31, 2010 |
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| Years Ended December 31, | ||||||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||
| Earnings: |
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| Income from continuing operations before provision for income taxes and income from equity investees |
$ | 21,488 | $ | 225,791 | $ | 256,994 | $ | 154,913 | $ | 149,885 | $ | 110,069 | ||||||||||||
| Add: |
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| Fixed charges |
23,937 | 102,781 | 113,959 | 91,594 | 75,829 | 46,211 | ||||||||||||||||||
| Amortization of capitalized Interest |
148 | 553 | 440 | 255 | 126 | 80 | ||||||||||||||||||
| Distributions from joint ventures |
2,400 | 9,700 | 2,835 | 544 | 5,268 | 4,657 | ||||||||||||||||||
| Less: Interest capitalized |
(624 | ) | (1,650 | ) | (5,108 | ) | (5,995 | ) | (1,758 | ) | (1,008 | ) | ||||||||||||
| Total earnings |
$ | 47,349 | $ | 337,175 | $ | 369,120 | $ | 241,311 | $ | 229,350 | $ | 160,009 | ||||||||||||
| Fixed charges: |
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| Interest expense (1) |
$ | 18,366 | $ | 78,622 | $ | 92,971 | $ | 77,584 | $ | 68,241 | $ | 41,616 | ||||||||||||
| Amortization of debt issuance costs |
233 | 910 | 815 | 1,030 | 726 | 622 | ||||||||||||||||||
| Interest capitalized |
624 | 1,650 | 5,108 | 5,995 | 1,758 | 1,008 | ||||||||||||||||||
| Rental expense interest factor (2) |
4,714 | 21,599 | 15,065 | 6,985 | 5,104 | 2,965 | ||||||||||||||||||
| Total fixed charges |
$ | 23,937 | $ | 102,781 | $ | 113,959 | $ | 91,594 | $ | 75,829 | $ | 46,211 | ||||||||||||
| Ratio of earnings to fixed charges |
2.0 | x | 3.3 | x | 3.2 | x | 2.6 | x | 3.0 | x | 3.5 | x | ||||||||||||
| (1) | The “Interest expense, net” reported in NuStar Energy L.P.’s consolidated statement of income for the three months ended March 31, 2010 includes investment income of $13,000. |
| (2) | The interest portion of rental expense represents one-third of rents, which is deemed representative of the interest portion of rental expense. |