EX-12.1 3 dkl-exhibit121formsx4.htm EXHIBIT 12.1 FORM S-4 Exhibit
Exhibit 12.1

DELEK LOGISTICS PARTNERS, LP AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands)
2017
2016
2015
2014
2013
EARNINGS:
 
 
 
 
 
Pre-tax income from continuing operations before adjustment for non-controlling interest
$
69,187

$
62,885

$
66,016

$
70,190

$
34,161

(Income) Loss from equity method investments
(4,953)

1,178

588

—

—

Interest expense (a)
23,944

13,587

10,658

8,656

4,570

Earnings (losses) (b)
$
88,178

$
77,650

$
77,262

$
78,846

$
38,731

FIXED CHARGES:
 
 
 
 
 
Interest expense (a)
$
23,944

$
13,587

$
10,658

$
8,656

$
4,570

Capitalized interest
102

38

94

46

31

Fixed Charges
$
24,046

$
13,625

$
10,752

$
8,702

$
4,601

RATIO OF EARNINGS TO FIXED CHARGES
3.7

5.7

7.2

9.1

8.4

INSUFFICIENT COVERAGE
—

—

—

—

—


(a)
Includes amortization of deferred financing costs and debt discount as well as interest expense related to any capital leases.
(b)
Amortization of capitalized interest is not practicable to determine and therefore has not been excluded from Earnings for purposes of calculating the Ratio of Earnings to Fixed Charges. However, this exclusion is believed to be immaterial to the calculation based on the historical levels of capitalized interest and would not cause coverage in any of the years presented to be insufficient.