EX-12.1 3 d559649dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

Atlas Resource Partners, L.P.

(UNAUDITED)

(amounts in thousands except ratios)

 

     Three Months
Ended March
31, 2013		     Year Ended December 31,  
       2012     2011     2010     2009     2008  

Earnings:

             

Income (loss) from continuing operations before income tax expense

    $ (5,377 )    $ (51,902 )    $ 19,899      $ 9,281      $ (54,329 )    $ 131,687   

Fixed charges

      11,387        7,882        632        472        469        323   

Income from equity investee

      —          —          —          —          —          —     

Interest capitalized

      (3,447 )      (2,338 )      —          —          —          —     

Amortization of previously capitalized interest

      91        223        —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

      2,654        (46,135 )      20,531        9,753        (53,860 )      132,010   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges:

             

Interest cost, excluding addback of capitalized interest, and debt expense

      6,889        4,195        —          —          —          —     

Interest capitalized

      3,447        2,338        —          —          —          —     

Interest allocable to rental expense (1)

      1,051        1,349        632        472        469        323   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Fixed Charges

      11,387        7,882        632        472        469        323   

Preferred dividends

      1,957        3,493        —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Fixed Charges and Preferred Dividends

    $ 13,344.00      $ 11,375.00      $ 631.95      $ 471.57      $ 468.93      $ 323.40   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of Earnings to Fixed Charges

      0.23        (2 )      32.49        20.68        (4 )      408.20   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of Earnings to Fixed Charges and Preferred Dividends

      0.20        (2 )      (3 )      (3 )      (3 )      (3 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) Represents one-third of the total operating lease rental expense which is that portion deemed to be interest.
(2) Our earning were insufficient to cover our fixed charges by $54.0 million for this period.
(3) We did not have any preferred securities outstanding as of these periods.
(4) Our earnings were insufficient to cover our fixed charges by $54.3 million for this period.