HOLLY ENERGY PARTNERS LP - FORM 10-Q - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - October 28, 2011

Attached files

file filename
10-Q - FORM 10-Q - HOLLY ENERGY PARTNERS LPd241216d10q.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 - HOLLY ENERGY PARTNERS LPd241216dex321.htm
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 906 - HOLLY ENERGY PARTNERS LPd241216dex322.htm
EX-10.3 - LETTER AGREEMENT DATED OCTOBER 14, 2011 - HOLLY ENERGY PARTNERS LPd241216dex103.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 - HOLLY ENERGY PARTNERS LPd241216dex311.htm
EXCEL - IDEA: XBRL DOCUMENT - HOLLY ENERGY PARTNERS LPFinancial_Report.xls
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 - HOLLY ENERGY PARTNERS LPd241216dex312.htm

Exhibit 12.1

Holly Energy Partners, L.P.

Computation of Ratio of Earnings

To Fixed Charges

(In thousands)

 

     Nine months
Ended
September  30,
2011		      Years Ended December 31,  
        2010      2009      2008      2007      2006  

Earnings:

                  

Net income

    $ 50,926       $ 58,869       $ 46,234       $ 20,696       $ 35,152       $ 23,989   

Add total fixed charges (per below)

      28,583         36,598         24,638         24,751         15,125         14,815   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings

    $ 79,509       $ 95,467       $ 70,872       $ 45,447       $ 50,277       $ 38,804   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges:

                  

Interest expense

    $ 26,101       $ 34,001       $ 21,501       $ 21,763       $ 13,289       $ 13,056   

Capitalized interest

      839         455         1,008         1,007         —           —     

Estimate of interest within rental expense (1)

      1,643         2,142         2,129         1,981         1,836         1,759   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges

    $ 28,583       $ 36,598       $ 24,638       $ 24,751       $ 15,125       $ 14,815   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      2.78         2.61         2.88         1.84         3.32         2.62   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(1) Represents 30% of the total operating lease rental expense which is that portion deemed to be interest.

 

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HOLLY ENERGY PARTNERS LP Reports