EX-12 3 arp-ex12_20130930510.htm EXHIBIT 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

   

   

2012

   

Earnings:

   

   

   

   

   

   

   

Net loss(1)

$

(51,250

) 

   

$

(32,994

) 

Fixed Charges

   

35,905

      

   

   

4,482

      

Interest capitalized

   

(10,484

) 

   

   

(982

) 

Amortization of previously capitalized interest

   

606

      

   

   

24

      

Total

$

(25,223

)  

   

$

(29,470

) 

Fixed Charges:

   

   

   

   

   

   

   

Interest cost and debt expense

$

22,145

      

   

$

2,529

      

Interest capitalized

   

10,484

      

   

   

982

      

Interest allocable to rental expense(2)

   

3,276

      

   

   

971

      

Total Fixed Charges

   

35,905

      

   

   

4,482

      

Preferred dividends

   

8,277

      

   

   

1,652

      

Total Fixed Charges and Preferred Dividends

$

44,182

      

   

$

6,134

      

Ratio of Earnings to Fixed Charges(3)

   

—  

      

   

   

—  

      

Ratio of Earnings to Fixed Charges and Preferred Dividends(3)

   

—  

      

   

   

—  

      

   

 

   

(1) 

Includes losses on asset sales and disposals of $2.0 million and $7.0 million during the nine months ended September 30, 2013 and 2012, 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 losses for the nine months ended September 30, 3013 and 2012, its earnings were insufficient to cover its fixed charges by $25.2 million and $29.5 million.