EX-12.1 7 h77349exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
     The table below sets forth the Ratio of Earnings to Fixed Charges for us for each of the periods indicated. On January 31, 2006, we completed our initial public offering whereby we became successor to the business of Calumet Lubricant Co., Limited Partnership. As such, the year ended December 31, 2005 and a portion of the year ended December 31, 2006 reflect the financial results of Calumet Lubricants Co., Limited Partnership, our predecessor.
                                                 
    Calumet     Calumet Specialty Products Partners, L.P.  
    Lubricants                                     Nine  
    Co., Limited                                     Months  
    Partnership                                     Ended  
    Year Ended December 31,     September 30,  
    2005     2006(1)     2007     2008     2009     2010  
    (Unaudited)  
    (Dollars in thousands)  
Earnings
                                                
Income from continuing operations
   $ 12,926     $ 95,768     $ 83,375     $ 44,694     $ 61,936     $ 7,586  
Fixed charges less capitalized interest
     28,419       14,822       11,539       45,450       44,903       32,966  
 
                                    
Earnings from continuing operations before fixed charges
   $ 41,345     $ 110,590     $ 94,914     $ 90,144     $ 106,839     $ 40,552  
Fixed charges
                                                
Interest expense, net of capitalized interest
   $ 22,961     $ 9,030     $ 4,717     $ 33,938     $ 33,573     $ 22,505  
Capitalized interest, net of amortization
     178       1,938       4,501       6,909       575       234  
Estimated interest within rental expense
     5,458       5,792       6,822       11,512       11,330       10,461  
 
                                    
Total fixed charges
   $ 28,597     $ 16,760     $ 16,040     $ 52,359     $ 45,478     $ 33,200  
 
                                    
Ratio of earnings to fixed charges
     1.45       6.60       5.92       1.72       2.35       1.22  
 
                                    
 
(1)   The information presented for the year ended December 31, 2006 contains results of our predecessor for the period of January 1, 2006 through January 31, 2006.
     For purposes of determining the ratio of earnings to fixed charges, earnings are defined as pre-tax income from continuing operations plus the following (a) fixed charges, and (b) amortization of capitalized interest, less interest capitalized. Fixed charges consist of interest expensed and capitalized plus (a) amortized discounts and capitalized expenses related to indebtedness, and (b) an estimate of the interest within rental expense.