EQGP Holdings, LP - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 15, 2018

Attached files

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EX-10.19 - EXHIBIT 10.19 - EQGP Holdings, LPeqgpex1019transportationse.htm
EX-99.3 - EXHIBIT 99.3 - EQGP Holdings, LPeqgpex993non-gaapfinancial.htm
EX-99.2 - EXHIBIT 99.2 - EQGP Holdings, LPeqgpex992namedexecutiveoff.htm
EX-32 - EXHIBIT 32 - EQGP Holdings, LPeqgpex322017certification.htm
EX-31.2 - EXHIBIT 31.2 - EQGP Holdings, LPeqgpex3122017certification.htm
EX-31.1 - EXHIBIT 31.1 - EQGP Holdings, LPeqgpex3112017certification.htm
EX-23.1 - EXHIBIT 23.1 - EQGP Holdings, LPeqgpex2312017consent.htm
EX-21.1 - EXHIBIT 21.1 - EQGP Holdings, LPeqgpex2112017listofsubsidi.htm
EX-10.20(F) - EXHIBIT 10.20(F) - EQGP Holdings, LPeqgpex1020fjupiterggaamend.htm
10-K - 10-K - EQGP Holdings, LPeqgp1231201710k.htm

Exhibit 12.1

EQT GP HOLDINGS, LP AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (1) 
 
 
Year Ended December 31,

 
 
2017
 
2016
 
2015
 
2014
 
2013
 
(Thousands)
Earnings:
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
568,920

 
$
545,141

 
$
436,326

 
$
325,037

 
$
249,041

Minus: equity income of unconsolidated entities
 
(22,171
)
 
(9,898
)
 
(2,367
)
 
—

 
—

Plus: Fixed charges
 
42,159

 
27,176

 
27,824

 
13,629

 
1,687

Minus: Capitalized interest
 
(4,120
)
 
(9,403
)
 
(5,642
)
 
(2,258
)
 
(442
)
Minus: Net income attributable to noncontrolling interests
 
(306,927
)
 
(300,815
)
 
(226,397
)
 
(124,025
)
 
(47,243
)
Total earnings
 
$
277,861

 
$
252,201

 
$
229,744

 
$
212,383

 
$
203,043

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Net interest expense
 
$
36,150

 
$
16,761

 
$
21,348

 
$
10,871

 
$
829

Plus: Capitalized interest
 
4,120

 
9,403

 
5,642

 
2,258

 
442

Plus: Estimated interest component of rental expense
 
1,889

 
1,012

 
834

 
500

 
416

Total fixed charges
 
$
42,159

 
$
27,176

 
$
27,824

 
$
13,629

 
$
1,687

 
 

 







Ratio of earnings to fixed charges
 
6.6x

 
9.3x

 
8.3x

 
15.6x

 
120.4x

 
(1)
Earnings included in the calculation of this ratio consist of (i) income before income taxes, minus (ii) equity income of unconsolidated entities, plus (iii) fixed charges, minus (iv) capitalized interest (including allowance for borrowed funds used during construction) and minus (v) net income attributable to noncontrolling interests. Fixed charges included in the calculation of this ratio consist of (i) net interest expense, plus (ii) capitalized interest (including allowance for borrowed funds used during construction) and (iii) the estimated interest portion of rental expense.


EQGP Holdings, LP Reports