EX-12.1 3 d602407dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

BreitBurn Energy Partners L.P.

Computation of Ratio of Earnings to Fixed Charges

(In thousands)

 

     Year Ended December 31,     Six Months Ended
June 30, 2013		  
     2008      2009     2010     2011      2012    

Net income (loss)

    $ 378,236       $ (107,290 )    $ 34,751      $ 110,497       $ (40,252 )    $ 40,132   

Income tax expense (benefit)

      1,939         (1,528 )      (204 )      1,188         84        604   
  

 

 

     

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

Total earnings

      380,175         (108,818 )      34,547        111,685         (40,168 )      40,736   

Interest and other financing costs, net (a)

      30,107         19,851        25,498        40,204         62,521        37,660   

Realized losses on interest rate swaps (b)

      2,916         13,115        11,087        3,257         5,469        —     
  

 

 

     

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

Total fixed charges

    $ 33,023       $ 32,966      $ 36,585      $ 43,461       $ 67,990      $ 37,660   

Ratio of earnings to fixed charges

      11.5x         (c)        0.9x        2.6x         (d)        1.1x   

 

(a) Includes interest associated with operating leases.

 

(b) Excludes 2008 Lehman termination.

 

(c) Earnings were inadequate to cover fixed charges by $141.8 million for the year ended December 31, 2009.

 

(d) Earnings were inadequate to cover fixed charges by $108.4 million for the year ended December 31, 2012.