EX-12.1 7 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(UNAUDITED)

Sunoco Logistics Partners L.P.

 

     Year Ended
December 31,
2004


 
     (in thousands,
except ratio)
 

Fixed Charges:

        

Interest cost and debt expense

   $ 20,915  

Interest allocable to rental expense (a)

     1,504  
    


Total

   $ 22,419  
    


Earnings:

        

Income before income tax expense

   $ 57,031  

Equity in income of less than 50 percent owned affiliated companies (b)

     (13,233 )

Dividends received from less than 50 percent owned affiliated companies (b)

     13,331  

Fixed charges

     22,419  

Interest capitalized

     —    

Amortization of previously capitalized interest

     142  
    


Total

   $ 79,690  
    


Ratio of Earnings to Fixed Charges

     3.55  
    



(a) Represents one-third of the total operating lease rental expense which is that portion deemed to be interest.
(b) Reflects amounts attributable to interests in the following corporate joint ventures accounted for under the equity method: 9.4 percent in Explorer Pipeline Company, 31.5 percent in Wolverine Pipe Line Company, 12.3 percent in West Shore Pipe Line Company, 14.0 percent in Yellowstone Pipe Line Company, and 43.8 percent in West Texas Gulf Pipe Line Company.