Attached files
file | filename |
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EXCEL - IDEA: XBRL DOCUMENT - Targa Pipeline Partners LP | Financial_Report.xls |
EX-31.2 - EX-31.2 - Targa Pipeline Partners LP | d817720dex312.htm |
EX-32.1 - EX-32.1 - Targa Pipeline Partners LP | d817720dex321.htm |
EX-32.2 - EX-32.2 - Targa Pipeline Partners LP | d817720dex322.htm |
EX-31.1 - EX-31.1 - Targa Pipeline Partners LP | d817720dex311.htm |
10-Q - 10-Q - Targa Pipeline Partners LP | d817720d10q.htm |
EXHIBIT 12.1
ATLAS PIPELINE PARTNERS, L.P.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
(amounts in thousands, except ratios)
Nine Months Ended September 30, | ||||||||
2014 | 2013 | |||||||
Earnings: |
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Income (loss) before income tax expense (1)(2) |
$ | 115,405 | $ | (43,819 | ) | |||
Fixed charges |
82,648 | 73,612 | ||||||
Adjustment to net distributed income from equity investees |
15,728 | 5,714 | ||||||
Interest capitalized |
(9,861 | ) | (5,320 | ) | ||||
Amortization of previously capitalized interest |
974 | 737 | ||||||
Non-controlling interest |
(10,456 | ) | (4,693 | ) | ||||
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Total |
$ | 194,438 | $ | 26,231 | ||||
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Fixed Charges: |
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Interest cost and debt expense |
$ | 69,275 | $ | 65,614 | ||||
Interest capitalized |
9,861 | 5,320 | ||||||
Interest allocable to rental expense(3) |
3,512 | 2,678 | ||||||
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Total fixed charges |
82,648 | 73,612 | ||||||
Preferred dividends |
5,624 | | ||||||
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Total fixed charges and preferred dividends |
$ | 88,272 | $ | 73,612 | ||||
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Ratio of earnings to fixed charges |
2.35 | | (4) | |||||
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Ratio of earnings to fixed charges and preferred dividends |
2.20 | N/A | ||||||
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(1) | Includes a non-cash gain recognized on derivatives of $28.1 million and a $47.8 million gain on the sale of WTLPG for the nine months ended September 30, 2014. |
(2) | Includes a non-cash loss recognized on derivatives of $13.1 million and a $26.6 million loss on early extinguishment of debt for the nine months ended September 30, 2013. |
(3) | Represents one-third of the total operating lease rental expense, which is that portion, deemed to be interest. |
(4) | The Partnerships earnings were insufficient to cover its fixed charges by $47.4 million for the nine months ended September 30, 2013. |