Atlas Pipeline Partners 10-Q 2013 Q3 Quarterly report

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,
	2013			2012
Earnings:
Income (loss) before income tax expense(1)(2)	$	(43,819	)	$	74,966
Fixed charges		73,612			35,344
Adjustment to net distributed income from equity investees		5,714			1,165
Interest capitalized		(5,320	)		(6,360	)
Amortization of previously capitalized interest		737			387
Non-controlling interest		(4,693	)		(4,108	)
Total	$	26,231		$	101,394
Fixed Charges:
Interest cost and debt expense	$	65,614		$	27,669
Interest capitalized		5,320			6,360
Interest allocable to rental expense(3)		2,678			1,315
Total fixed charges		73,612			35,344
Preferred dividends		14,413			—
Total fixed charges and preferred dividends	$	88,025		$	35,344
Ratio of earnings to fixed charges		—	(4)		2.9x
Ratio of earnings to fixed charges and preferred dividends		—	(5)		N/A

(1) Includes a $13.1 million non-cash loss recognized on derivatives and a $26.6 million loss on early extinguishment of debt for the nine months ended September 30, 2013.

(2) Includes a $29.8 million non-cash gain recognized on derivatives for the nine months ended September 30, 2012.

(3) Represents one-third of the total operating lease rental expense which is that portion deemed to be interest.

(4) The Partnership earnings were insufficient to cover its fixed charges by $47.4 million for the nine months ended September 30, 2013.

(5) The Partnership earnings were insufficient to cover its fixed charges and preferred dividends by $61.8 million for the nine months ended September 30, 2013.

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