Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Breitburn Energy Partners LP | d728961d8k.htm |
| EX-3.1 - EX-3.1 - Breitburn Energy Partners LP | d728961dex31.htm |
| EX-5.1 - EX-5.1 - Breitburn Energy Partners LP | d728961dex51.htm |
| EX-8.1 - EX-8.1 - Breitburn Energy Partners LP | d728961dex81.htm |
Exhibit 12.1
BreitBurn Energy Partners L.P.
Computation of Ratio of Earnings to Fixed Charges
(In thousands)
| Year Ended December 31, | Three Months Ended March 31, 2014 |
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| 2009 | 2010 | 2011 | 2012 | 2013 | ||||||||||||||||||||
| Earnings Available for Fixed Charges |
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| Pre-tax income (loss) before income from equity investees |
$ | (108,940 | ) | $ | 33,847 | $ | 111,050 | $ | (41,409 | ) | $ | (43,287 | ) | $ | (9,854 | ) | ||||||||
| Add: |
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| Fixed charges |
32,966 | 36,855 | 43,538 | 67,990 | 88,766 | 31,212 | ||||||||||||||||||
| Amortization of capitalized interest |
— | 39 | 24 | 27 | 52 | 16 | ||||||||||||||||||
| Distributed income of equity investments |
1,424 | 1,181 | 841 | 1,179 | 466 | — | ||||||||||||||||||
| Less: |
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| Capitalized interest |
— | 270 | 77 | 54 | 128 | 61 | ||||||||||||||||||
| Preferred unit distributions |
— | — | — | — | — | — | ||||||||||||||||||
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| Total earnings available for fixed charges |
$ | (74,550 | ) | $ | 71,651 | $ | 155,376 | $ | 27,732 | $ | 45,869 | $ | 21,312 | |||||||||||
| Fixed Charges |
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| Interest and other financing costs (a) |
$ | 31,942 | $ | 35,909 | $ | 42,499 | $ | 66,729 | $ | 87,195 | $ | 30,719 | ||||||||||||
| Estimated interest within rental expense |
1,024 | 946 | 1,039 | 1,261 | 1,571 | 493 | ||||||||||||||||||
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| Total fixed charges |
$ | 32,966 | $ | 36,855 | $ | 43,538 | $ | 67,990 | $ | 88,766 | $ | 31,212 | ||||||||||||
| Preferred Unit Distributions |
— | — | — | — | — | — | ||||||||||||||||||
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| Combined Fixed Charges and Preferred Unit Distributions |
$ | 32,966 | $ | 36,855 | $ | 43,538 | $ | 67,990 | $ | 88,766 | $ | 31,212 | ||||||||||||
| Ratio of Earnings to Fixed Charges |
— | 1.9x | 3.6x | — | — | — | ||||||||||||||||||
| Insufficient Coverage |
$ | (107,516 | ) | — | — | $ | (40,257 | ) | $ | (42,897 | ) | $ | (9,899 | ) | ||||||||||
| Ratio of Earnings to Combined Fixed Charges and Preferred Unit Distributions |
— | 1.9x | 3.6x | — | — | — | ||||||||||||||||||
| Insufficient Coverage |
$ | (107,516 | ) | — | — | $ | (40,257 | ) | $ | (42,897 | ) | $ | (9,899 | ) | ||||||||||
| (a) | Reflects interest costs before capitalization of interest and includes settlements paid on interest rate swaps. |