Attached files
| file | filename |
|---|---|
| 8-K - 8-K - BUCKEYE PARTNERS, L.P. | a13-23928_18k.htm |
| EX-5.1 - EX-5.1 - BUCKEYE PARTNERS, L.P. | a13-23928_1ex5d1.htm |
| EX-1.1 - EX-1.1 - BUCKEYE PARTNERS, L.P. | a13-23928_1ex1d1.htm |
Exhibit 12.1
Buckeye Partners, L.P.
Computation of Ratio of Earnings to Fixed Charges
Dollars in Thousands
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Nine Months Ended |
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Years Ended December 31, |
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September 30, |
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2008 |
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2009 |
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2010 |
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2011 |
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2012 |
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2013 |
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Earnings: |
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Income from continuing operations |
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$ |
26,477 |
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$ |
49,594 |
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$ |
43,080 |
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$ |
108,501 |
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$ |
226,417 |
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$ |
243,546 |
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Equity income (greater than) less than distributions |
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(2,875 |
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(2,871 |
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3,316 |
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(3,778 |
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(2,775 |
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(4,696 |
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Less: capitalized interest |
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(2,355 |
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(3,401 |
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(2,499 |
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(7,583 |
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(9,238 |
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(5,255 |
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Total earnings |
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21,247 |
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43,322 |
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43,897 |
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97,140 |
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214,404 |
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233,595 |
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Fixed Charges: |
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Interest and debt expense |
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75,410 |
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75,147 |
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89,169 |
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119,561 |
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114,980 |
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94,827 |
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Capitalized interest |
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2,355 |
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3,401 |
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2,499 |
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7,583 |
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9,238 |
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5,255 |
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Portion of rentals representing an interest factor |
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6,723 |
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7,052 |
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7,092 |
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10,039 |
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11,865 |
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8,320 |
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Total fixed charges |
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84,488 |
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85,600 |
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98,760 |
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137,183 |
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136,083 |
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108,402 |
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Earnings available for fixed charges |
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$ |
105,735 |
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$ |
128,922 |
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$ |
142,657 |
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$ |
234,323 |
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$ |
350,487 |
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$ |
341,997 |
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Ratio of earnings to fixed charges |
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1.25 |
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1.51 |
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1.44 |
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1.71 |
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2.58 |
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3.15 |
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