Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - Targa Pipeline Partners LP | Financial_Report.xls |
| EX-32.1 - EX-32.1 - Targa Pipeline Partners LP | d767381dex321.htm |
| EX-32.2 - EX-32.2 - Targa Pipeline Partners LP | d767381dex322.htm |
| EX-10.3(G) - EX-10.3(G) - Targa Pipeline Partners LP | d767381dex103g.htm |
| EX-31.2 - EX-31.2 - Targa Pipeline Partners LP | d767381dex312.htm |
| 10-Q - 10-Q - Targa Pipeline Partners LP | d767381d10q.htm |
| EX-31.1 - EX-31.1 - Targa Pipeline Partners LP | d767381dex311.htm |
EXHIBIT 12.1
ATLAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(unaudited)
(amounts in thousands, except ratios)
| Six Months Ended June 30, |
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| 2014 | 2013 | |||||||
| Earnings: |
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| Income (loss) before income tax expense(1)(2) |
$ | 66,654 | $ | (17,438 | ) | |||
| Fixed charges |
54,877 | 46,814 | ||||||
| Adjustment to net distributed income from equity investees |
9,953 | 2,032 | ||||||
| Interest capitalized |
(6,052 | ) | (3,816 | ) | ||||
| Amortization of previously capitalized interest |
616 | 455 | ||||||
| Non-controlling interest |
(6,427 | ) | (3,179 | ) | ||||
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| Total |
$ | 119,621 | $ | 24,868 | ||||
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| Fixed Charges: |
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| Interest cost and debt expense |
$ | 46,722 | $ | 41,267 | ||||
| Interest capitalized |
6,052 | 3,816 | ||||||
| Interest allocable to rental expense(3) |
2,103 | 1,731 | ||||||
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| Total fixed charges |
54,877 | 46,814 | ||||||
| Preferred dividends |
3,015 | — | ||||||
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| Total fixed charges and preferred dividends |
$ | 57,892 | $ | 46,814 | ||||
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| Ratio of earnings to fixed charges |
2.18 | — | (4) | |||||
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| Ratio of earnings to fixed charges and preferred dividends |
2.07 | — | ||||||
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| (1) | Includes a non-cash gain recognized on derivatives of $1.4 million and a $48.5 million gain on the sale of WTLPG for the six months ended June 30, 2014. |
| (2) | Includes a non-cash gain recognized on derivatives of $10.5 million and a $26.6 million loss on early extinguishment of debt for the six months ended June 30, 2013. |
| (3) | Represents one-third of the total operating lease rental expense, which is that portion, deemed to be interest. |
| (4) | The Partnership earnings were insufficient to cover its fixed charges by $21.9 million for the six months ended June 30, 2013. |