Attached files
| file | filename |
|---|---|
| EX-23.1 - EX-23.1 - Western Midstream Operating, LP | h79797exv23w1.htm |
| EX-32.1 - EX-32.1 - Western Midstream Operating, LP | h79797exv32w1.htm |
| EX-31.2 - EX-31.2 - Western Midstream Operating, LP | h79797exv31w2.htm |
| 10-K - FORM 10-K - Western Midstream Operating, LP | h79797e10vk.htm |
| EX-31.1 - EX-31.1 - Western Midstream Operating, LP | h79797exv31w1.htm |
Exhibit 12.1
WESTERN
GAS PARTNERS, LP
COMPUTATION
OF RATIO OF EARNINGS TO FIXED CHARGES
| Year Ended December 31, | ||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||
|
Earnings:
|
||||||||||||||||||||
|
Income before income taxes
|
$ | 147,645 | $ | 135,780 | $ | 177,975 | $ | 130,417 | $ | 27,402 | ||||||||||
|
Add:
|
||||||||||||||||||||
|
Fixed charges
|
19,190 | 10,973 | 2,947 | 9,462 | 11,885 | |||||||||||||||
|
Distributions from equity investees
|
5,935 | 5,552 | 5,128 | 1,349 | 741 | |||||||||||||||
|
Amortization of capitalized interest
|
— | 248 | 6 | — | — | |||||||||||||||
|
Less:
|
||||||||||||||||||||
|
Equity income
|
6,640 | 7,330 | 4,736 | 4,017 | 1,360 | |||||||||||||||
|
Net income before taxes attributable to noncontrolling interests
|
11,005 | 10,260 | 7,965 | — | — | |||||||||||||||
|
Earnings
|
$ | 155,125 | $ | 134,963 | $ | 173,355 | $ | 137,211 | $ | 38,668 | ||||||||||
|
Fixed charges:
|
||||||||||||||||||||
|
Interest expense
|
$ | 18,793 | $ | 9,955 | $ | 364 | $ | 5,667 | $ | 9,476 | ||||||||||
|
Interest component of lease expense
|
397 | 1,018 | 2,583 | 3,795 | 2,409 | |||||||||||||||
|
Fixed charges
|
$ | 19,190 | $ | 10,973 | $ | 2,947 | $ | 9,462 | $ | 11,885 | ||||||||||
|
Ratio of earnings to fixed charges
|
8.1x | 12.3x | 58.8x | 14.5x | 3.3x | |||||||||||||||
These ratios were computed by dividing earnings by fixed
charges. For this purpose, earnings include pre-tax income
before adjustment for income or loss from equity investees, plus
fixed charges to the extent they affect current year earnings,
amortization of capitalized interest and distributed income of
equity investees, then subtracting equity income, noncontrolling
interests in pre-tax income from subsidiaries that did not incur
fixed charges, and interest capitalized during the year. Fixed
charges include interest expensed and capitalized, amortized
premiums, discounts and capitalized expenses related to
indebtedness, and estimates of interest within rental expenses.