EX-12.1 2 d494369dex121.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)

 

     Year Ended December 31,  
     2012     2011      2010      2009     2008  

Earnings:

             

Net income (loss)(1)

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

Fixed Charges

      11,375        632         472         469        323   

Equity income in unconsolidated company

      —          —           —           —          —     

Interest capitalized

      (2,338 )      —           —           —          —     

Amortization of previously capitalized interest

      223        —           —           —          —     
  

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Total

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

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Fixed Charges:

             

Interest cost and debt expense

      4,195        —           —           —          —     

Interest capitalized

      2,338        —           —           —          —     

Preferred dividends

      3,493        —           —           —          —     

Interest allocable to rental expense(2)

      1,349        632         472         469        323   
  

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Total(3)

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

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Ratio of Earnings to Fixed Charges

      —          32.49x         20.68x         —          408.20x   
  

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

 

(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) 

Due to the Partnership’s net loss for the years ended December 31, 2012 and December 31, 2009, its earnings were insufficient to cover its fixed charges by $54.0 million and $54.3 million.