HOLLY ENERGY PARTNERS LP - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 16, 2011

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10-K - FORM 10-K - HOLLY ENERGY PARTNERS LPc12681e10vk.htm
EX-10.2 - EXHIBIT 10.2 - HOLLY ENERGY PARTNERS LPc12681exv10w2.htm
EX-10.29 - EXHIBIT 10.29 - HOLLY ENERGY PARTNERS LPc12681exv10w29.htm
EX-10.28 - EXHIBIT 10.28 - HOLLY ENERGY PARTNERS LPc12681exv10w28.htm
EX-10.24 - EXHIBIT 10.24 - HOLLY ENERGY PARTNERS LPc12681exv10w24.htm
EX-10.23 - EXHIBIT 10.23 - HOLLY ENERGY PARTNERS LPc12681exv10w23.htm
EX-10.40 - EXHIBIT 10.40 - HOLLY ENERGY PARTNERS LPc12681exv10w40.htm
EX-10.45 - EXHIBIT 10.45 - HOLLY ENERGY PARTNERS LPc12681exv10w45.htm
EX-31.2 - EXHIBIT 31.2 - HOLLY ENERGY PARTNERS LPc12681exv31w2.htm
EX-21.1 - EXHIBIT 21.1 - HOLLY ENERGY PARTNERS LPc12681exv21w1.htm
EX-32.2 - EXHIBIT 32.2 - HOLLY ENERGY PARTNERS LPc12681exv32w2.htm
EX-32.1 - EXHIBIT 32.1 - HOLLY ENERGY PARTNERS LPc12681exv32w1.htm
EX-31.1 - EXHIBIT 31.1 - HOLLY ENERGY PARTNERS LPc12681exv31w1.htm
EX-23.1 - EXHIBIT 23.1 - HOLLY ENERGY PARTNERS LPc12681exv23w1.htm
EX-10.34 - EXHIBIT 10.34 - HOLLY ENERGY PARTNERS LPc12681exv10w34.htm
Exhibit 12.1
Holly Energy Partners, L.P.
Computation of Ratio of Earnings
To Fixed Charges
(In thousands)
                                         
    Years Ended December 31,  
    2010     2009     2008     2007     2006  
Earnings:
                                        
Income from continuing operations
   $ 58,869     $ 46,234     $ 20,696     $ 35,152     $ 23,989  
 
                                        
Add total fixed charges (per below)
     36,598       24,638       24,751       15,125       14,815  
 
                              
 
                                        
Total earnings
   $ 95,467     $ 70,872     $ 45,447     $ 50,277     $ 38,804  
 
                              
 
                                        
Fixed charges:
                                        
Interest expense
   $ 34,001     $ 21,501     $ 21,763     $ 13,289     $ 13,056  
Capitalized interest
     455       1,008       1,007       —       —  
Estimate of interest within rental expense(1)
     2,142       2,129       1,981       1,836       1,759  
 
                              
 
                                        
Total fixed charges
   $ 36,598     $ 24,638     $ 24,751     $ 15,125     $ 14,815  
 
                              
 
                                        
Ratio of earnings to fixed charges
     2.61       2.88       1.84       3.32       2.62  
 
                              
     
(1)  
Represents 30% of the total operating lease rental expense, which is that portion, deemed to be interest.

 

 

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