EX-12 2 arp-ex12_201403316.htm 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)

 

 

  

Three Months Ended
March 31,

 

 

  

2014

 

  

2013

 

Earnings:

  

 

 

 

  

 

 

 

Net loss(1)

  

$

(10,761

) 

  

$

(5,377

) 

Fixed Charges

  

 

17,152

  

  

 

11,387

  

Equity income in unconsolidated company

  

 

—

  

  

 

—

  

Interest capitalized

  

 

(2,648

) 

  

 

(3,447

) 

Amortization of previously capitalized interest

  

 

443

  

  

 

91

  

Total

  

 

4,186

  

  

 

2,654

  

Fixed Charges:

  

 

 

 

  

 

 

 

Interest cost and debt expense

  

 

13,188

  

  

 

6,889

  

Interest capitalized

  

 

2,648

  

  

 

3,447

  

Interest allocable to rental expense(2)

  

 

1,316

  

  

 

1,051

  

Total Fixed Charges

  

$

17,152

  

  

$

11,387

  

Preferred limited partner dividends

  

 

4,399

  

  

 

1,957

  

Total Fixed Charges and Preferred Dividends

  

$

21,551

  

  

$

13,344

  

Ratio of Earnings to Fixed Charges

  

 

0.24x

  

  

 

0.23x

  

Ratio of Earnings to Fixed Charges and Preferred Dividends

  

 

0.19x

  

  

 

0.20x

  

 

(1)

Includes loss on asset sales and disposal of $1.6 million and $0.7 million for the three months ended March 31, 2014 and 2013, respectively.

(2)

Represents one-third of the total operating lease rental expense which is that portion deemed to be interest.