Western Refining Logistics, LP - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 26, 2016

Attached files

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EX-21.1 - EXHIBIT 21.1 - Western Refining Logistics, LPwnrl-ex211.htm
EX-32.2 - EXHIBIT 32.2 - Western Refining Logistics, LPwnrl-ex322.htm
EX-31.2 - EXHIBIT 31.2 - Western Refining Logistics, LPwnrl-ex312.htm
EX-31.1 - EXHIBIT 31.1 - Western Refining Logistics, LPwnrl-ex311.htm
EX-32.1 - EXHIBIT 32.1 - Western Refining Logistics, LPwnrl-ex321.htm
EX-23.1 - EXHIBIT 23.1 - Western Refining Logistics, LPwnrl-ex231consentofindepen.htm
10-K - 10-K - Western Refining Logistics, LPwnrl-201510xk.htm


Exhibit 12.1

Computation of Earnings to Fixed Charges
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011 (1)
 
(In thousands)
Earnings (loss) before income taxes
$
63,672

 
$
68,055

 
$
(42,632
)
 
$
(50,214
)
 
$
(25,579
)
Add:
 

 
 

 
 

 
 

 
 

Interest expense and other financing costs
23,107

 
2,374

 
322

 
40

 
16

Amortization of capitalized interest
—

 
—

 
—

 
—

 
—

Interest component of rental expense
2,840

 
2,708

 
1,985

 
1,915

 
1,926

Earnings as adjusted
$
89,619

 
$
73,137

 
$
(40,325
)
 
$
(48,259
)
 
$
(23,637
)
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense and other financing costs
$
23,107

 
$
2,374

 
$
322

 
$
40

 
$
16

Capitalized interest
—

 
—

 
—

 
—

 
—

Interest component of rental expense
2,840

 
2,708

 
1,985

 
1,915

 
1,926

Fixed charges
$
25,947

 
$
5,082

 
$
2,307

 
$
1,955

 
$
1,942

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
3.45

 
14.39

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
Coverage deficiency
$
—

 
$
—

 
$
42,632

 
$
50,214

 
$
25,579

(1)
Earnings (loss) before income taxes and interest expense for the year ended December 31, 2011 have been adjusted to exclude interest expense of $9.8 million that Western historically allocated to the Wholesale segment.



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