Attached files
| file | filename |
|---|---|
| EX-2.4(B) - EX-2.4(B) - Titan Energy, LLC | arp-ex24b_211.htm |
| EX-31.2 - EX-31.2 - Titan Energy, LLC | arp-ex312_132.htm |
| EX-32.1 - EX-32.1 - Titan Energy, LLC | arp-ex321_133.htm |
| EX-32.2 - EX-32.2 - Titan Energy, LLC | arp-ex322_134.htm |
| EX-31.1 - EX-31.1 - Titan Energy, LLC | arp-ex311_131.htm |
| EX-2.4(D) - EX-2.4(D) - Titan Energy, LLC | arp-ex24d_213.htm |
| EX-2.4(C) - EX-2.4(C) - Titan Energy, LLC | arp-ex24c_212.htm |
| 10-Q - 10-Q - Titan Energy, LLC | arp-10q_20150930.htm |
EXHIBIT 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(UNAUDITED)
Atlas Resource Partners, L.P.
(amounts in thousands except ratios)
|
|
|
Nine Months Ended September 30, |
|
|
|||||
|
|
|
2015 |
|
|
2014 |
|
|
||
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
Net loss(1) |
|
$ |
(520,092 |
) |
|
$ |
(27,558 |
) |
|
|
Fixed Charges |
|
|
91,064 |
|
|
|
56,679 |
|
|
|
Equity income in unconsolidated company |
|
|
— |
|
|
|
— |
|
|
|
Interest capitalized |
|
|
(11,954 |
) |
|
|
(9,374 |
) |
|
|
Amortization of previously capitalized interest |
|
|
1,994 |
|
|
|
1,633 |
|
|
|
Total |
|
|
(438,988 |
) |
|
|
21,380 |
|
|
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
Interest cost and debt expense |
|
|
75,105 |
|
|
|
43,028 |
|
|
|
Interest capitalized |
|
|
11,954 |
|
|
|
9,374 |
|
|
|
Interest allocable to rental expense(2) |
|
|
4,005 |
|
|
|
4,277 |
|
|
|
Total Fixed Charges(3) |
|
$ |
91,064 |
|
|
$ |
56,679 |
|
|
|
Preferred limited partner dividends |
|
|
12,179 |
|
|
|
13,298 |
|
|
|
Total Fixed Charges and Preferred Dividends(3) |
|
$ |
103,243 |
|
|
$ |
69,977 |
|
|
|
Ratio of Earnings to Fixed Charges |
|
|
— |
|
|
|
0.38X |
|
|
|
Ratio of Earnings to Fixed Charges and Preferred Dividends |
|
|
— |
|
|
|
0.31X |
|
|
|
(1) |
Includes gains on mark-to-market derivatives of $209.7 million for the nine months ended September 30, 2015, asset impairment charges of $672.2 million for the nine months ended September 30, 2015, and losses on asset sales and disposal of approximately $0.3 million and $1.7 million for the nine months ended September 30, 2015 and 2014, respectively. |
|
(2) |
Represents one-third of the total operating lease rental expense which is that portion deemed to be interest. |
|
(3) |
Due to the Partnership’s net loss for the nine months ended September 30, 2015, its earnings were insufficient to cover its fixed charges by $530.1 million. Due to the Partnership’s net loss for the nine months ended September 30, 2015, its earnings were insufficient to cover its fixed charges and preferred dividend by $542.2 million. |