Attached files
| file | filename |
|---|---|
| 8-K - 8-K - BUCKEYE PARTNERS, L.P. | a14-20678_48k.htm |
| EX-1.1 - EX-1.1 - BUCKEYE PARTNERS, L.P. | a14-20678_4ex1d1.htm |
| EX-5.1 - EX-5.1 - BUCKEYE PARTNERS, L.P. | a14-20678_4ex5d1.htm |
| EX-4.1 - EX-4.1 - BUCKEYE PARTNERS, L.P. | a14-20678_4ex4d1.htm |
Exhibit 12.1
Buckeye Partners, L.P.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
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Six Months Ended |
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Years Ended December 31, |
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June 30, |
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2009 |
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2010 |
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2011 |
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2012 |
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2013 |
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2014 |
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Earnings: |
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Income from continuing operations before taxes (1) |
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$ |
18,485 |
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$ |
23,795 |
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$ |
285,472 |
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$ |
231,070 |
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$ |
348,507 |
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$ |
161,792 |
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Equity income (greater than) less than distributions |
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(2,871 |
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3,316 |
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(3,778 |
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(2,775 |
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(3,931 |
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(3,311 |
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Less: capitalized interest (2) |
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(3,186 |
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(2,227 |
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(7,187 |
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(8,796 |
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(6,501 |
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(3,520 |
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Total earnings |
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12,428 |
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24,884 |
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274,507 |
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219,499 |
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338,075 |
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154,961 |
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Fixed Charges: |
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Interest and debt expense |
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75,147 |
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89,169 |
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119,561 |
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114,980 |
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130,920 |
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83,225 |
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Capitalized interest |
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3,401 |
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2,499 |
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7,583 |
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9,238 |
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7,007 |
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3,774 |
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Portion of rentals representing an interest factor |
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4,396 |
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4,438 |
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7,400 |
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8,894 |
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8,217 |
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4,430 |
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Total fixed charges |
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82,944 |
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96,106 |
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134,544 |
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133,112 |
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146,144 |
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91,429 |
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Earnings available for fixed charges |
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$ |
95,372 |
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$ |
120,990 |
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$ |
409,051 |
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$ |
352,611 |
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$ |
484,219 |
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$ |
246,390 |
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Ratio of earnings to fixed charges |
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1.15 |
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1.26 |
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3.04 |
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2.65 |
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3.31 |
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2.69 |
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(1) Excludes income attributable to noncontrolling interests.
(2) Excludes amortization of capitalized interest totaling $0.2 million in 2009, $0.3 million in 2010, $0.4 million in 2011, $0.4 million in 2012, $0.5 million in 2013 and $0.3 million for the six months ended June 30, 2014.