Attached files
file | filename |
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EX-32.01 - EXHIBIT 32.01 - VALERO ENERGY PARTNERS LP | vlpexh3201-12312016.htm |
EX-31.02 - EXHIBIT 31.02 - VALERO ENERGY PARTNERS LP | vlpexh3102-12312016.htm |
EX-31.01 - EXHIBIT 31.01 - VALERO ENERGY PARTNERS LP | vlpexh3101-12312016.htm |
EX-23.01 - EXHIBIT 23.01 - VALERO ENERGY PARTNERS LP | vlpexh2301-12312016.htm |
EX-21.01 - EXHIBIT 21.01 - VALERO ENERGY PARTNERS LP | vlpexh2101-12312016.htm |
EX-10.18 - EXHIBIT 10.18 - VALERO ENERGY PARTNERS LP | vlpexh1018-12312016.htm |
10-K - 10-K - VALERO ENERGY PARTNERS LP | vlpform10-kx12312016.htm |
Exhibit 12.01
VALERO ENERGY PARTNERS LP
STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
Year Ended December 31, | ||||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) before income taxes | $ | 189,943 | $ | 71,563 | $ | (32,813 | ) | $ | (23,969 | ) | $ | (36,453 | ) | |||||||||||
Add: | ||||||||||||||||||||||||
Fixed charges | 18,251 | 8,521 | 1,352 | 714 | 942 | |||||||||||||||||||
Amortization of capitalized interest | 4 | 1 | — | — | — | |||||||||||||||||||
Less: | ||||||||||||||||||||||||
Capitalized interest | (82 | ) | (31 | ) | — | — | — | |||||||||||||||||
Total earnings | $ | 208,116 | $ | 80,054 | $ | (31,461 | ) | $ | (23,255 | ) | $ | (35,511 | ) | |||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest and debt expense, net of capitalized interest | $ | 14,915 | $ | 6,113 | $ | 872 | $ | 198 | $ | 307 | ||||||||||||||
Capitalized interest | 82 | 31 | — | — | — | |||||||||||||||||||
Rental expense interest factor (a) | 3,254 | 2,377 | 480 | 516 | 635 | |||||||||||||||||||
Total fixed charges | $ | 18,251 | $ | 8,521 | $ | 1,352 | $ | 714 | $ | 942 | ||||||||||||||
Ratio of earnings to fixed charges | 11.4 | x | 9.4 | x | (b) | (b) | (c) |
__________
(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 years ended December 31, 2012, 2013, and 2014, earnings was insufficient to cover fixed charges and the deficiency was $36.5 million, $24.0 million, and $32.8 million, respectively. |