EX-12.1 38 d559649dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

(UNAUDITED)

Atlas Resource Partners, L.P.

(amounts in thousands except ratios)

 

     Nine Months
Ended
September 30,
2013		     Year Ended December 31,  
       2012     2011     2010     2009     2008  

Earnings:

             

Net income (loss)(1)

    $ (51,250 )    $ (51,902 )    $ 19,899      $ 9,281      $ (54,329 )    $ 131,687   

Fixed Charges

      35,905        11,375        632        472        469        323   

Interest capitalized

      (10,484 )      (2,338 )      —          —          —          —     

Amortization of previously capitalized interest

      606        223        —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

      (25,223 )      (42,642 )    $ 20,531      $ 9,753      $ (53,860 )    $ 132,010   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges:

             

Interest cost and debt expense

      22,145        4,195        —          —          —          —     

Interest capitalized

      10,484        2,338        —          —          —          —     

Interest allocable to rental expense(2)

      1,349        1,349        632        472        469        323   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 35,905      $ 7,882      $ 632      $ 472      $ 469      $ 323   

Preferred dividends

      8,277        3,493        —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges and preferred dividends(3)

    $ 44,182      $ 11,375      $ 632      $ 472      $ 469      $ 323   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of Earnings to Fixed Charges

     —         
 —  
   
     32.49 x      20.68 x      —          408.20 x 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of Earnings to Fixed Charges and Preferred Dividends

      —         
 —  
   
     32.49 x      20.68 x      —          408.20 x 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) Includes asset impairment charges of $9.5 million, $7.0 million, $50.7 million and $156.4 million during the years ended December 31, 2012, 2011, 2010 and 2009, respectively.
(2) Represents one-third of the total operating lease rental expense which is that portion deemed to be interest.
(3) Our earnings were insufficient to cover its fixed charges and preferred dividends by $69.4 million for the nine months ended September 30, 2013 and by $54.0 million and $54.3 million for the years ended December 31, 2012 and December 31, 2009, respectively.