Attached files
| file | filename |
|---|---|
| EX-31.1 - EX-31.1 - NGL Energy Partners LP | a15-13588_1ex31d1.htm |
| EX-32.2 - EX-32.2 - NGL Energy Partners LP | a15-13588_1ex32d2.htm |
| EX-32.1 - EX-32.1 - NGL Energy Partners LP | a15-13588_1ex32d1.htm |
| EX-31.2 - EX-31.2 - NGL Energy Partners LP | a15-13588_1ex31d2.htm |
| 10-Q - 10-Q - NGL Energy Partners LP | a15-13588_110q.htm |
Exhibit 12.1
NGL ENERGY PARTNERS LP AND SUBSIDIARIES AND NGL SUPPLY, INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)
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NGL Energy Partners LP |
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NGL Supply, Inc. |
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Three Months |
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Six Months |
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Six Months |
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Ended |
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Ended |
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Ended |
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June 30, |
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Year Ended March 31, |
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March 31, |
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September 30, |
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2015 |
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2015 |
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2014 |
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2013 |
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2012 |
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2011 |
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2010 |
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EARNINGS: |
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Income (loss) before income taxes |
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$ |
(37,988 |
) |
$ |
26,262 |
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$ |
49,695 |
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$ |
50,065 |
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$ |
8,465 |
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$ |
12,679 |
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$ |
(3,977 |
) |
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Loss (income) before income taxes attributable to noncontrolling interests |
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(3,875 |
) |
(13,223 |
) |
(1,103 |
) |
(250 |
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12 |
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— |
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45 |
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Fixed charges |
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42,042 |
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151,956 |
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91,622 |
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66,824 |
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9,354 |
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2,761 |
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597 |
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Total earnings (loss) |
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$ |
179 |
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$ |
164,995 |
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$ |
140,214 |
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$ |
116,639 |
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$ |
17,831 |
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$ |
15,440 |
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$ |
(3,335 |
) |
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FIXED CHARGES: |
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Interest expense |
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$ |
30,802 |
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$ |
110,123 |
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$ |
58,854 |
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$ |
32,994 |
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$ |
7,620 |
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$ |
2,482 |
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$ |
372 |
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Loss on early extinguishment of debt |
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— |
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— |
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— |
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5,769 |
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— |
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— |
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— |
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Portion of rental expense estimated to relate to interest (1) |
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11,240 |
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41,833 |
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32,768 |
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28,061 |
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1,734 |
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279 |
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225 |
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Fixed charges |
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$ |
42,042 |
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$ |
151,956 |
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$ |
91,622 |
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$ |
66,824 |
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$ |
9,354 |
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$ |
2,761 |
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$ |
597 |
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Ratio of earnings to fixed charges |
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(2 |
) |
1.09 |
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1.53 |
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1.75 |
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1.91 |
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5.59 |
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(3 |
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(1) Represents one-third of the total operating lease rental expense, which is that portion estimated to represent interest.
(2) The ratio was less than 1:1 for the three months ended June 30, 2015. NGL Energy Partners LP would have needed to generate an additional $41.9 million of earnings to achieve a ratio of 1:1.
(3) The ratio was less than 1:1 for the six months ended September 30, 2010. NGL Supply, Inc. would have needed to generate an additional $3.9 million of earnings to achieve a ratio of 1:1.