Attached files
| file | filename |
|---|---|
| EX-23.2 - EX-23.2 - Titan Energy, LLC | arp-ex232_459.htm |
| EX-23.1 - EX-23.1 - Titan Energy, LLC | arp-ex231_458.htm |
| EX-99.2 - EX-99.2 - Titan Energy, LLC | arp-ex992_795.htm |
| EX-32.1 - EX-32.1 - Titan Energy, LLC | arp-ex321_260.htm |
| EX-21.1 - EX-21.1 - Titan Energy, LLC | arp-ex211_452.htm |
| EX-31.1 - EX-31.1 - Titan Energy, LLC | arp-ex311_258.htm |
| EX-99.3 - EX-99.3 - Titan Energy, LLC | arp-ex993_650.htm |
| EX-32.2 - EX-32.2 - Titan Energy, LLC | arp-ex322_261.htm |
| EX-10.2(G) - EX-10.2(G) - Titan Energy, LLC | arp-ex102g_456.htm |
| EX-23.3 - EX-23.3 - Titan Energy, LLC | arp-ex233_460.htm |
| EX-31.2 - EX-31.2 - Titan Energy, LLC | arp-ex312_259.htm |
| 10-K - 10-K - Titan Energy, LLC | arp-10k_20151231.htm |
EXHIBIT 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(UNAUDITED)
Atlas Resource Partners, L.P.
(amounts in thousands except ratios)
|
|
|
Years Ended December 31, |
|
|||||||||||||||||
|
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
2011 |
|
|||||
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)(1) |
|
$ |
(808,816 |
) |
|
$ |
(607,088 |
) |
|
$ |
(90,305 |
) |
|
$ |
(51,902 |
) |
|
$ |
19,899 |
|
|
Fixed Charges |
|
|
123,102 |
|
|
|
80,718 |
|
|
|
52,813 |
|
|
|
7,882 |
|
|
|
632 |
|
|
Equity income in unconsolidated company |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Interest capitalized |
|
|
(15,786 |
) |
|
|
(12,967 |
) |
|
|
(14,174 |
) |
|
|
(2,338 |
) |
|
|
— |
|
|
Amortization of previously capitalized interest |
|
|
2,959 |
|
|
|
3,162 |
|
|
|
1,726 |
|
|
|
223 |
|
|
|
— |
|
|
Total |
|
|
(698,541 |
) |
|
|
(536,175 |
) |
|
$ |
(49,940 |
) |
|
$ |
(46,135 |
) |
|
$ |
20,531 |
|
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest cost and debt expense |
|
|
102,133 |
|
|
|
62,144 |
|
|
|
34,324 |
|
|
|
4,195 |
|
|
|
— |
|
|
Interest capitalized |
|
|
15,786 |
|
|
|
12,967 |
|
|
|
14,174 |
|
|
|
2,338 |
|
|
|
— |
|
|
Interest allocable to rental expense(2) |
|
|
5,183 |
|
|
|
5,607 |
|
|
|
4,315 |
|
|
|
1,349 |
|
|
|
632 |
|
|
Total Fixed Charges(3) |
|
$ |
123,102 |
|
|
$ |
80,718 |
|
|
$ |
52,813 |
|
|
$ |
7,882 |
|
|
$ |
632 |
|
|
Preferred limited partner dividends |
|
|
16,728 |
|
|
|
19,267 |
|
|
|
12,677 |
|
|
|
3,493 |
|
|
|
— |
|
|
Total Fixed Charges and Preferred Dividends(3) |
|
$ |
139,830 |
|
|
$ |
99,985 |
|
|
$ |
65,490 |
|
|
$ |
11,375 |
|
|
$ |
632 |
|
|
Ratio of Earnings to Fixed Charges(3) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
32.49x |
|
|
Ratio of Earnings to Fixed Charges and Preferred Dividends(3) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
32.49x |
|
|
(1) |
Includes asset impairment charges of $966.6 million, $573.8 million, $38.0 million, $9.5 million, and $7.0 million during the years ended December 31, 2015, 2014, 2013, 2012, and 2011, respectively. |
|
(2) |
Represents one-third of the total operating lease rental expense which is that portion deemed to be interest. |
|
(3) |
Due to the Partnership’s net loss for the years ended December 31, 2015, 2014, 2013, and 2012, its earnings were insufficient to cover its fixed charges by $821.6 million, $616.9 million, $102.8 million and $54.0 million, respectively. Due to the Partnership’s net loss for the years ended December 31, 2015, 2014, 2013, and 2012, its earnings were insufficient to cover its fixed charges and preferred dividends by $838.4 million, $636.2 million, $115.4 million and $57.5 million, respectively. There were no preferred limited partner dividends for the year ended December 31, 2011. |