Attached files
| file | filename |
|---|---|
| S-1 - FORM S-1 - Alon USA Energy, Inc. | d76449sv1.htm |
| EX-21.1 - EX-21.1 - Alon USA Energy, Inc. | d76449exv21w1.htm |
| EX-23.1 - EX-23.1 - Alon USA Energy, Inc. | d76449exv23w1.htm |
| EX-24.1 - EX-24.1 - Alon USA Energy, Inc. | d76449exv24w1.htm |
Exhibit 12.1
Alon USA Energy, Inc.
Statement of Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
Statement of Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
| Six months | ||||||||||||||||||||||||
| ended | ||||||||||||||||||||||||
| June 30, | Year ended December 31, | |||||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
Ratio of Earnings to Fixed Charges: |
||||||||||||||||||||||||
Earnings: |
||||||||||||||||||||||||
Income (loss) before income tax
expense (benefit), non-controlling
interest in income (loss) of
subsidiaries, accumulated dividends on
preferred stock of subsidiary and
income (loss) from equity earnings
(losses) of investees |
$ | (141,170 | ) | $ | (191,642 | ) | $ | 157,427 | $ | 144,937 | $ | 256,416 | $ | 174,212 | ||||||||||
Add: |
||||||||||||||||||||||||
Fixed charges |
52,973 | 121,232 | 83,663 | 52,889 | 35,832 | 23,998 | ||||||||||||||||||
Amortization of capitalized interest |
222 | 425 | 344 | 394 | 441 | 311 | ||||||||||||||||||
Distributions from equity investees |
331 | 19,167 | 2,774 | 9,301 | 2,422 | 1,617 | ||||||||||||||||||
Less: |
||||||||||||||||||||||||
Interest capitalized |
(771 | ) | (1,692 | ) | (3,417 | ) | — | — | (927 | ) | ||||||||||||||
Total earnings |
$ | (88,415 | ) | $ | (52,510 | ) | $ | 240,791 | $ | 207,521 | $ | 295,111 | $ | 199,211 | ||||||||||
Fixed charges: |
||||||||||||||||||||||||
Interest expense, net |
$ | 48,320 | $ | 111,137 | $ | 67,550 | $ | 47,747 | $ | 30,658 | $ | 19,326 | ||||||||||||
Interest capitalized |
771 | 1,692 | 3,417 | — | — | 927 | ||||||||||||||||||
Rental expense interest factor (A) |
3,882 | 8,403 | 12,696 | 5,142 | 5,174 | 3,745 | ||||||||||||||||||
Total fixed charges |
$ | 52,973 | $ | 121,232 | $ | 83,663 | $ | 52,889 | $ | 35,832 | $ | 23,998 | ||||||||||||
Ratio of earnings to fixed charges |
(B | ) | (B | ) | 2.9 | x | 3.9 | x | 8.2 | x | 8.3 | x | ||||||||||||
Ratio of Earnings to Fixed
Charges and Preferred Stock Dividends: |
||||||||||||||||||||||||
Total earnings |
$ | (88,415 | ) | $ | (52,510 | ) | $ | 240,791 | $ | 207,521 | $ | 295,111 | $ | 199,211 | ||||||||||
Total fixed charges |
$ | 52,973 | $ | 121,232 | $ | 83,663 | $ | 52,889 | $ | 35,832 | $ | 23,998 | ||||||||||||
Preferred stock dividends |
— | — | 6,615 | — | — | — | ||||||||||||||||||
Total fixed charges and preferred stock
dividends |
$ | 52,973 | $ | 121,232 | $ | 90,278 | $ | 52,889 | $ | 35,832 | $ | 23,998 | ||||||||||||
Ratio of earnings to fixed charges |
(B | ) | (B | ) | 2.7 | x | 3.9 | x | 8.2 | x | 8.3 | x | ||||||||||||
| (A) | The interest portion of rental expense represents one-third of rents, which is deemed representative of the interest portion of rental expense. | |
| (B) | For the six months ended June 30, 2010 and the year ended December 31, 2009, our ratio of earnings to fixed charges was less than one-to-one, and our coverage deficiency was approximately $141.4 million for the six months ended June 30, 2010 and $173.7 million for the year ended December 31, 2009. |