EX-12.1 2 arp-ex121_20150331166.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,

 

 

 

 

2015

 

 

2014

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Net income (loss)(1)

 

$

85,637

 

 

$

(10,760

)

 

Fixed Charges

 

 

30,562

 

 

 

17,151

 

 

Equity income in unconsolidated company

 

 

—

 

 

 

—

 

 

Interest capitalized

 

 

(3,885

)

 

 

(2,648

)

 

Amortization of previously capitalized interest

 

 

604

 

 

 

443

 

 

Total

 

 

112,918

 

 

 

4,186

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

Interest cost and debt expense

 

 

25,197

 

 

 

13,187

 

 

Interest capitalized

 

 

3,885

 

 

 

2,648

 

 

Interest allocable to rental expense(2)

 

 

1,480

 

 

 

1,316

 

 

Total Fixed Charges

 

$

30,562

 

 

$

17,151

 

 

Preferred limited partner dividends

 

 

3,653

 

 

 

4,399

 

 

Total Fixed Charges and Preferred Dividends

 

$

34,215

 

 

$

21,550

 

 

 

Ratio of Earnings to Fixed Charges

 

 

3.69

 

 

 

0.24

 

 

Ratio of Earnings to Fixed Charges and Preferred Dividends

 

 

3.30

 

 

 

0.19

 

 

 

(1)

Includes gains on mark-to-market derivatives of $104.5 million for the three months ended March 31, 2015 and loss on asset sales and disposal of approximately $11,000 and $1.6 million for the three months ended March 31, 2015 and 2014, respectively.

(2)

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