Crestwood Equity Partners LP - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - May 7, 2015

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EXCEL - IDEA: XBRL DOCUMENT - Crestwood Equity Partners LPFinancial_Report.xls
10-Q - 10-Q - Crestwood Equity Partners LPceqp-q115.htm
EX-31.1 - EXHIBIT 31.1 - Crestwood Equity Partners LPceqp-ex311xq115.htm
EX-32.2 - EXHIBIT 32.2 - Crestwood Equity Partners LPceqp-ex322xq115.htm
EX-31.2 - EXHIBIT 31.2 - Crestwood Equity Partners LPceqp-ex312xq115.htm
EX-32.1 - EXHIBIT 32.1 - Crestwood Equity Partners LPceqp-ex321xq115.htm


Exhibit 12.1


CRESTWOOD EQUITY PARTNERS LP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except for ratio)

 
Three Months Ended
March 31,
 
2015
 
2014
Earnings:
 
 
 
Pre-tax income from continuing operations before adjustment for non-controlling interest and equity earnings (including amortization of excess cost of equity investment) per statements of income
$
15.1

 
$
14.1

Add:
 
 
 
     Fixed charges
37.9

 
35.2

     Amortized capitalized interest
—

 
—

Less:
 
 
 
     Capitalized interest
(0.7
)
 
(1.4
)
Non-controlling interest in pre-tax income of subsidiary with no fixed charges(1)
(5.6
)

(3.1
)
     Total earnings available for fixed charges
$
46.7

 
$
44.8

 
 
 
 
Fixed charges:
 
 
 
   Interest and debt expense
34.3

 
33.1

   Interest component of rent
3.6

 
2.1

   Total fixed charges
$
37.9

 
$
35.2

 
 
 
 
Ratio of earnings to fixed charges(2)
1.2

 
1.3


(1)
Dividend requirement of preferred securities issued by our consolidated subsidiary was paid in units and therefore were not considered a fixed charge for purposes of this computation.
(2)
For purposes of computing the ratio of earnings to fixed charges, "earnings" consists of pretax income from continuing operations before adjustment for non-controlling interest and income from equity investee plus fixed charges (excluding capitalized interest) and amortized capitalized interest. "Fixed charges" represents interest incurred (whether expensed or capitalized), amortization of debt costs and that portion of rental expense on operating leases deemed to be the equivalent of interest.






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