HOLLY ENERGY PARTNERS LP - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - July 30, 2010

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10-Q - FORM 10-Q - HOLLY ENERGY PARTNERS LPc04049e10vq.htm
EX-4.1 - EXHIBIT 4.1 - HOLLY ENERGY PARTNERS LPc04049exv4w1.htm
EX-4.3 - EXHIBIT 4.3 - HOLLY ENERGY PARTNERS LPc04049exv4w3.htm
EX-4.2 - EXHIBIT 4.2 - HOLLY ENERGY PARTNERS LPc04049exv4w2.htm
EX-4.4 - EXHIBIT 4.4 - HOLLY ENERGY PARTNERS LPc04049exv4w4.htm
EX-10.2 - EXHIBIT 10.2 - HOLLY ENERGY PARTNERS LPc04049exv10w2.htm
EX-31.1 - EXHIBIT 31.1 - HOLLY ENERGY PARTNERS LPc04049exv31w1.htm
EX-10.1 - EXHIBIT 10.1 - HOLLY ENERGY PARTNERS LPc04049exv10w1.htm
EX-32.1 - EXHIBIT 32.1 - HOLLY ENERGY PARTNERS LPc04049exv32w1.htm
EX-32.2 - EXHIBIT 32.2 - HOLLY ENERGY PARTNERS LPc04049exv32w2.htm
EX-31.2 - EXHIBIT 31.2 - HOLLY ENERGY PARTNERS LPc04049exv31w2.htm
Exhibit 12.1
Holly Energy Partners, L.P.
Computation of Ratio of Earnings
To Fixed Charges
(In thousands)
                                                 
    Six Months        
    Ended        
    June 30,     Years Ended December 31,  
    2010     2009     2008     2007     2006     2005  
Earnings:
                                                
Net income
   $ 24,137     $ 66,014     $ 25,367     $ 39,271     $ 28,223     $ 27,556  
 
                                                
Add total fixed charges (per below)
     18,394       25,682       24,751       15,125       14,815       11,324  
 
                                    
 
                                                
Total earnings
   $ 42,531     $ 91,696     $ 50,118     $ 54,396     $ 43,038     $ 38,880  
 
                                    
 
                                                
Fixed charges:
                                                
Interest expense
   $ 17,093     $ 21,501     $ 21,763     $ 13,289     $ 13,056     $ 9,633  
Capitalized interest
     247       1,008       1,007       —       —       —  
Estimate of interest within rental expense (1)
     1,054       3,173       1,981       1,836       1,759       1,691  
 
                                    
 
                                                
Total fixed charges
   $ 18,394     $ 25,682     $ 24,751     $ 15,125     $ 14,815     $ 11,324  
 
                                    
 
                                                
Ratio of earnings to fixed charges
     2.31       3.57       2.02       3.60       2.91       3.43  
 
                                    
     
(1)  
Represents 30% of the total operating lease rental expense which is that portion deemed to be interest.

 

 

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