EQM Midstream Partners, LP - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 12, 2015

Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - EQM Midstream Partners, LPFinancial_Report.xls
EX-10.9 - EXHIBIT 10.9 - EQM Midstream Partners, LPex1092014eqtvaluedriversha.htm
EX-10.22(C) - EXHIBIT 10.22(C) - EQM Midstream Partners, LPex1022csecondamendmenttoco.htm
EX-32 - EXHIBIT 32 - EQM Midstream Partners, LPex32certification.htm
EX-10.22(A) - EXHIBIT 10.22(A) - EQM Midstream Partners, LPex1022aconfidentialitynon-.htm
EX-10.3 - EXHIBIT 10.3 - EQM Midstream Partners, LPex103amendedandrestatedope.htm
EX-10.23 - EXHIBIT 10.23 - EQM Midstream Partners, LPex1023changeofcontrolagree.htm
EX-23.1 - EXHIBIT 23.1 - EQM Midstream Partners, LPex231consent.htm
EX-31.1 - EXHIBIT 31.1 - EQM Midstream Partners, LPex311certification.htm
EX-21.1 - EXHIBIT 21.1 - EQM Midstream Partners, LPex211listofsubsidiaries.htm
EX-31.2 - EXHIBIT 31.2 - EQM Midstream Partners, LPex312certification.htm
10-K - 10-K - EQM Midstream Partners, LPeqtmidstream-12312014x10k.htm
EX-10.22(B) - EXHIBIT 10.22(B) - EQM Midstream Partners, LPex1022bamendmenttoconfiden.htm


Exhibit 12.1

EQT MIDSTREAM PARTNERS, LP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (1) 


 
 
Year Ended December 31,

 
 
2014
 
2013
 
2012
 
2011
 
2010
 
(Thousands)
Earnings:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
 
$
245,229

 
$
212,679

 
$
130,306

 
$
86,485

 
$
53,236

Plus: Fixed charges
 
33,121

 
2,429

 
5,128

 
6,168

 
5,608

Minus: Capitalized interest
 
(1,831
)
 
(442
)
 
(1,858
)
 
(758
)
 
(45
)
Total earnings
 
$
276,519

 
$
214,666

 
$
133,576

 
$
91,895

 
$
58,799

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense, excluding capital lease interest expense
 
$
10,968

 
$
829

 
$
2,944

 
$
5,050

 
$
5,164

Interest expense, capital lease
 
19,888

 
843

 
—

 
—

 
—

Plus: Capitalized interest
 
1,831

 
442

 
1,858

 
758

 
45

Plus: Estimated interest component of rental expense
 
434

 
315

 
326

 
360

 
399

Total fixed charges
 
$
33,121

 
$
2,429

 
$
5,128

 
$
6,168

 
$
5,608

 
 

 

 
 
 
 
 
 
Ratio of earnings to fixed charges
 
8.3x

 
88.4x

 
26.1x

 
14.9x

 
10.5x

 
(1)
Earnings included in the calculation of this ratio consist of (i) income from continuing operations before income taxes, plus (ii) fixed charges and minus (iii) capitalized interest (allowance for borrowed funds used during construction). Fixed charges included in the calculation of this ratio consist of (i) interest expense, plus (ii) capitalized interest (allowance for borrowed funds used during construction) and (iii) the estimated interest portion of rental expense.



EQM Midstream Partners, LP Reports