Attached files
| file | filename |
|---|---|
| EX-23.01 - EXHIBIT 23.01 - NuStar Energy L.P. | ns2015ex2301.htm |
| EX-31.02 - EXHIBIT 31.02 - NuStar Energy L.P. | ns2015ex3102.htm |
| EX-99.03 - EXHIBIT 99.03 - NuStar Energy L.P. | ns2015ex9903.htm |
| EX-99.01 - EXHIBIT 99.01 - NuStar Energy L.P. | ns2015ex9901.htm |
| EX-10.26 - EXHIBIT 10.26 - NuStar Energy L.P. | ns2015ex1026.htm |
| EX-99.02 - EXHIBIT 99.02 - NuStar Energy L.P. | ns2015ex9902.htm |
| EX-21.01 - EXHIBIT 21.01 - NuStar Energy L.P. | ns2015ex2101.htm |
| EX-10.45 - EXHIBIT 10.45 - NuStar Energy L.P. | ns2015ex1045.htm |
| EX-32.02 - EXHIBIT 32.02 - NuStar Energy L.P. | ns2015ex3202.htm |
| EX-23.02 - EXHIBIT 23.02 - NuStar Energy L.P. | ns2015ex2302.htm |
| 10-K - 10-K - NuStar Energy L.P. | ns201510-k.htm |
| EX-32.01 - EXHIBIT 32.01 - NuStar Energy L.P. | ns2015ex3201.htm |
| EX-31.01 - EXHIBIT 31.01 - NuStar Energy L.P. | ns2015ex3101.htm |
Exhibit 12.01
NUSTAR ENERGY L.P.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars, Except Ratio)
Years Ended December 31, | |||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Earnings: | |||||||||||||||||||
Income (loss) from continuing operations before provision for income taxes and income from equity investees | $ | 320,658 | $ | 220,174 | $ | (132,786 | ) | $ | (132,173 | ) | $ | 225,771 | |||||||
Add: | |||||||||||||||||||
Fixed charges | 150,661 | 153,236 | 149,090 | 122,286 | 109,825 | ||||||||||||||
Amortization of capitalized interest | 1,573 | 1,385 | 1,216 | 1,012 | 793 | ||||||||||||||
Distributions from joint ventures | 2,500 | 7,587 | 7,956 | 6,364 | 14,374 | ||||||||||||||
Less: Interest capitalized | (5,549 | ) | (5,667 | ) | (4,501 | ) | (7,737 | ) | (5,388 | ) | |||||||||
Total earnings | $ | 469,843 | $ | 376,715 | $ | 20,975 | $ | (10,248 | ) | $ | 345,375 | ||||||||
Fixed charges: | |||||||||||||||||||
Interest expense, net | $ | 131,868 | $ | 132,281 | $ | 127,119 | $ | 90,535 | $ | 81,539 | |||||||||
Interest capitalized | 5,549 | 5,667 | 4,501 | 7,737 | 5,388 | ||||||||||||||
Rental expense interest factor (a) | 13,244 | 15,288 | 17,470 | 24,014 | 22,898 | ||||||||||||||
Total fixed charges | $ | 150,661 | $ | 153,236 | $ | 149,090 | $ | 122,286 | $ | 109,825 | |||||||||
Ratio of earnings to fixed charges | 3.1x | 2.5x | (b) | (c) | 3.1x | ||||||||||||||
(a) | The interest portion of rental expense represents one-third of rents, which is deemed representative of the interest portion of rental expense. |
(b) | For the year ended December 31, 2013, earnings were insufficient to cover fixed charges by $128.1 million. The deficiency included a goodwill impairment loss of $304.5 million related to the Statia terminals reporting unit. |
(c) | For the year ended December 31, 2012, earnings were insufficient to cover fixed charges by $132.5 million. The deficiency included the effect of $271.8 million of impairment losses mainly resulting from the write-down of the carrying value of our long-lived assets related to our asphalt operations, including fixed assets, goodwill, intangible assets and other long-term assets. |