Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - HOLLY ENERGY PARTNERS LP | c16226e10vq.htm |
| EX-31.1 - EXHIBIT 31.1 - HOLLY ENERGY PARTNERS LP | c16226exv31w1.htm |
| EX-32.1 - EXHIBIT 32.1 - HOLLY ENERGY PARTNERS LP | c16226exv32w1.htm |
| EX-32.2 - EXHIBIT 32.2 - HOLLY ENERGY PARTNERS LP | c16226exv32w2.htm |
| EX-31.2 - EXHIBIT 31.2 - HOLLY ENERGY PARTNERS LP | c16226exv31w2.htm |
Exhibit 12.1
Holly Energy Partners, L.P.
Computation of Ratio of Earnings
To Fixed Charges
(In thousands)
Computation of Ratio of Earnings
To Fixed Charges
(In thousands)
| Three Months | ||||||||||||||||||||||||
| Ended | ||||||||||||||||||||||||
| March 31, | Years Ended December 31, | |||||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
Earnings: |
||||||||||||||||||||||||
Net income |
$ | 15,169 | $ | 58,869 | $ | 46,234 | $ | 20,696 | $ | 35,152 | $ | 23,989 | ||||||||||||
Add total fixed charges (per below) |
9,291 | 36,598 | 24,638 | 24,751 | 15,125 | 14,815 | ||||||||||||||||||
Total earnings |
$ | 24,460 | $ | 95,467 | $ | 70,872 | $ | 45,447 | $ | 50,277 | $ | 38,804 | ||||||||||||
Fixed charges: |
||||||||||||||||||||||||
Interest expense |
$ | 8,549 | $ | 34,001 | $ | 21,501 | $ | 21,763 | $ | 13,289 | $ | 13,056 | ||||||||||||
Capitalized interest |
204 | 455 | 1,008 | 1,007 | — | — | ||||||||||||||||||
Estimate of interest within rental expense (1) |
538 | 2,142 | 2,129 | 1,981 | 1,836 | 1,759 | ||||||||||||||||||
Total fixed charges |
$ | 9,291 | $ | 36,598 | $ | 24,638 | $ | 24,751 | $ | 15,125 | $ | 14,815 | ||||||||||||
Ratio of earnings to fixed charges |
2.63 | 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. |