HOLLY ENERGY PARTNERS LP - FORM 10-K - EX-12.1 - STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - February 24, 2012

Attached files

file filename
10-K - FORM 10-K - HOLLY ENERGY PARTNERS LPd286811d10k.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER UNDER SECTION 906 - HOLLY ENERGY PARTNERS LPd286811dex321.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER UNDER SECTION 302 - HOLLY ENERGY PARTNERS LPd286811dex312.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - HOLLY ENERGY PARTNERS LPd286811dex231.htm
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER UNDER SECTION 906 - HOLLY ENERGY PARTNERS LPd286811dex322.htm
EX-4.16 - THIRD SUPPLEMENTAL INDENTURE - HOLLY ENERGY PARTNERS LPd286811dex416.htm
EX-21.1 - SUBSIDIARIES OF REGISTRANT - HOLLY ENERGY PARTNERS LPd286811dex211.htm
EX-4.12 - NINTH SUPPLEMENTAL INDENTURE - HOLLY ENERGY PARTNERS LPd286811dex412.htm
EX-10.55 - FIRST AMENDED AND RESTATED AGREEMENT (EL DORADO) - HOLLY ENERGY PARTNERS LPd286811dex1055.htm
EX-10.54 - FIRST AMENDED AND RESTATED AGREEMENT (CHEYENNE) - HOLLY ENERGY PARTNERS LPd286811dex1054.htm
EX-10.61 - MORTGAGE - HOLLY ENERGY PARTNERS LPd286811dex1061.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER UNDER SECTION 302 - HOLLY ENERGY PARTNERS LPd286811dex311.htm

Exhibit 12.1

Holly Energy Partners, L.P.

Computation of Ratio of Earnings

To Fixed Charges

(In thousands)

 

     Years Ended December 31,  
     2011      2010      2009      2008      2007  

Earnings:

               

Income from continuing operations

    $ 77,997       $ 58,869       $ 46,234       $ 20,696       $ 35,152   

Add total fixed charges (per below)

      39,075         36,598         24,638         24,751         15,125   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings

    $ 117,072       $ 95,467       $ 70,872       $ 45,447       $ 50,277   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges:

               

Interest expense

    $ 35,959       $ 34,001       $ 21,501       $ 21,763       $ 13,289   

Capitalized interest

      891         455         1,008         1,007         —     

Estimate of interest within rental expense(1)

      2,225         2,142         2,129         1,981         1,836   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges

    $ 39,075       $ 36,598       $ 24,638       $ 24,751       $ 15,125   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      3.00         2.61         2.88         1.84         3.32   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(1) Represents 30% of the total operating lease rental expense, which is that portion, deemed to be interest.

HOLLY ENERGY PARTNERS LP Reports