Attached files
| file | filename |
|---|---|
| EX-21.1 - EX-21.1 - TransMontaigne Partners LLC | tlp-20171231ex2118ed774.htm |
| 10-K - 10-K - TransMontaigne Partners LLC | tlp-20171231x10k.htm |
| EX-32.2 - EX-32.2 - TransMontaigne Partners LLC | tlp-20171231ex322e750e3.htm |
| EX-32.1 - EX-32.1 - TransMontaigne Partners LLC | tlp-20171231ex3216be4a7.htm |
| EX-31.2 - EX-31.2 - TransMontaigne Partners LLC | tlp-20171231ex31218f4da.htm |
| EX-31.1 - EX-31.1 - TransMontaigne Partners LLC | tlp-20171231ex311a8854b.htm |
| EX-23.2 - EX-23.2 - TransMontaigne Partners LLC | tlp-20171231ex232b5f3aa.htm |
| EX-23.1 - EX-23.1 - TransMontaigne Partners LLC | tlp-20171231ex231ab88f4.htm |
Exhibit 12.1
TranMontaigne Partners L.P. and subsidiaries
Ratio of Earnings to Fixed Charges
The following table sets forth our ratio of earnings to fixed charges for the periods indicated on a consolidated historical basis. For purposes of computing the ratio of earnings to fixed charges, "earnings" are defined as income or loss before income taxes and income or loss from unconsolidated affiliates plus fixed charges and distributions from unconsolidated affiliates less capitalized interest. "Fixed charges" consist of interest expensed and capitalized, amortization of debt issuance costs, and an estimate of interest within rent expense. You should read the ratio of earnings to fixed charges in conjunction with our consolidated financial statements.
|
|
|
Year ended December 31, 2017 |
|
||||||||
|
|
|
2017 |
|
2016 |
|
2015 |
|
2014 |
|
2013 |
|
|
|
|
(Dollars in thousands) |
|
||||||||
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
Add (deduct): |
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings |
|
48,493 |
|
44,106 |
|
41,689 |
|
32,463 |
|
34,726 |
|
|
Fixed charges |
|
13,211 |
|
10,249 |
|
9,491 |
|
9,022 |
|
8,406 |
|
|
Amortization of capitalized interest |
|
125 |
|
125 |
|
125 |
|
156 |
|
— |
|
|
Distributions from unconsolidated affiliates |
|
17,128 |
|
17,861 |
|
19,649 |
|
10,053 |
|
1,467 |
|
|
Capitalized interest |
|
(418) |
|
(509) |
|
(162) |
|
(1,397) |
|
(3,580) |
|
|
Earnings from unconsolidated affiliates |
|
(7,071) |
|
(10,029) |
|
(11,948) |
|
(4,443) |
|
321 |
|
|
Total adjusted earnings |
|
71,468 |
|
61,803 |
|
58,843 |
|
45,854 |
|
41,340 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
Estimate of interest expense within rental expense |
|
1,099 |
|
1,135 |
|
1,159 |
|
1,161 |
|
1,139 |
|
|
Interest expense |
|
10,473 |
|
7,787 |
|
7,396 |
|
5,489 |
|
2,712 |
|
|
Amortization of deferred financing costs |
|
1,221 |
|
818 |
|
774 |
|
975 |
|
975 |
|
|
Captialized interest |
|
418 |
|
509 |
|
162 |
|
1,397 |
|
3,580 |
|
|
Total fixed charges |
|
13,211 |
|
10,249 |
|
9,491 |
|
9,022 |
|
8,406 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
|
5.4 |
x |
6.0 |
x |
6.2 |
x |
5.1 |
x |
4.9 |
x |