Attached files
| file | filename |
|---|---|
| EX-99.2 - EXHIBIT 99.2 - PAR PACIFIC HOLDINGS, INC. | a20171231ex9922017laramiee.htm |
| EX-99.1 - EXHIBIT 99.1 - PAR PACIFIC HOLDINGS, INC. | a20171231ex991nsaiparpacif.htm |
| EX-32.2 - EXHIBIT 32.2 - PAR PACIFIC HOLDINGS, INC. | a20171231ex322-wm20171231.htm |
| EX-32.1 - EXHIBIT 32.1 - PAR PACIFIC HOLDINGS, INC. | a20171231ex321-wp20171231.htm |
| EX-31.2 - EXHIBIT 31.2 - PAR PACIFIC HOLDINGS, INC. | a20171231ex312-wm20171231.htm |
| EX-31.1 - EXHIBIT 31.1 - PAR PACIFIC HOLDINGS, INC. | a20171231ex311-wp20171231.htm |
| EX-23.3 - EXHIBIT 23.3 - PAR PACIFIC HOLDINGS, INC. | a20171231ex233nsaiconsent.htm |
| EX-23.2 - EXHIBIT 23.2 - PAR PACIFIC HOLDINGS, INC. | a20171231ex232deloittelara.htm |
| EX-23.1 - EXHIBIT 23.1 - PAR PACIFIC HOLDINGS, INC. | a20171231ex231deloitte10kc.htm |
| EX-21.1 - EXHIBIT 21.1 - PAR PACIFIC HOLDINGS, INC. | a20171231ex211subsidiaries.htm |
| 10-K - 10-K - PAR PACIFIC HOLDINGS, INC. | a2017123110-k20171231.htm |
EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||
(in thousands) | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Income (loss) before income taxes | $ | 71,302 | $ | (53,747 | ) | $ | (56,699 | ) | $ | (47,496 | ) | $ | (79,173 | ) | |||||
Add back: | |||||||||||||||||||
Interest expense and financing costs, net | 31,632 | 28,506 | 20,156 | 17,995 | 13,285 | ||||||||||||||
Estimate of interest component of rental expense (1) | 13,596 | 13,052 | 5,853 | 9,971 | 2,046 | ||||||||||||||
Equity losses (earnings) from Laramie Energy, LLC | (18,369 | ) | 22,381 | 55,983 | (2,849 | ) | 2,941 | ||||||||||||
Earnings | $ | 98,161 | $ | 10,192 | $ | 25,293 | $ | (22,379 | ) | $ | (60,901 | ) | |||||||
Fixed charges | |||||||||||||||||||
Interest expense and financing costs, net | 31,632 | 28,506 | 20,156 | 17,995 | 13,285 | ||||||||||||||
Estimate of interest component of rental expense | 13,596 | 13,052 | 5,853 | 9,971 | 2,046 | ||||||||||||||
Total fixed charges | $ | 45,228 | $ | 41,558 | $ | 26,009 | $ | 27,966 | $ | 15,331 | |||||||||
Ratio of earnings to fixed charges | 2.2 | NA (2) | NA (2) | NA (2) | NA (2) | ||||||||||||||
Amount by which fixed charges exceed earnings | NA | $ | 31,366 | $ | 716 | $ | 50,345 | $ | 76,232 | ||||||||||
__________________________________ | |||||||||||||||||||
(1) Consists of 33% of rental expense, which we believe to be a reasonable estimate of interest factor in our rental expense. | |||||||||||||||||||
(2) Earnings were inadequate to cover fixed charges for the respective periods. | |||||||||||||||||||