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S-3 Filing
Martin Midstream Partners (MMLP) S-3Shelf registration
Filed: 7 Dec 10, 12:00am
For the Nine | ||||||||||||||||||||||||||||
Months Ending | ||||||||||||||||||||||||||||
Year Ended December 31, | September 30, | |||||||||||||||||||||||||||
(all amounts in thousands) | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | ||||||||||||||||||||||
Pre-tax income before minority interest and equity in earnings of partnership | a | 12,289 | 13,696 | 27,215 | 31,732 | 15,751 | 2,237 | |||||||||||||||||||||
Distributions from unconsolidated entities | d | 1,346 | 8,852 | 10,860 | 10,225 | 6,476 | 7,524 | |||||||||||||||||||||
Fixed Charges | b | 9,477 | 17,974 | 21,772 | 26,991 | 22,973 | 26,272 | |||||||||||||||||||||
Amortization of Capitalized Interest | c | 9 | 67 | 202 | 331 | 385 | 299 | |||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Capitalized Interest | (237 | ) | (1,546 | ) | (2,483 | ) | (1,383 | ) | (259 | ) | (79 | ) | ||||||||||||||||
Earnings | 22,884 | 39,043 | 57,566 | 67,896 | 45,326 | 36,253 | ||||||||||||||||||||||
Fixed Charges Interest Expense (includes any debt amortization) | 6,909 | 13,626 | 15,125 | 21,433 | 18,995 | 22,248 | ||||||||||||||||||||||
Capitalized Interest | 237 | 1,546 | 2,483 | 1,383 | 259 | 79 | ||||||||||||||||||||||
Estimated interest element of rentals(1) | 2,331 | 2,802 | 4,164 | 4,175 | 3,719 | 3,945 | ||||||||||||||||||||||
Total Fixed Charges | 9,477 | 17,974 | 21,772 | 26,991 | 22,973 | 26,272 | ||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | 2.41 | 2.17 | 2.64 | 2.52 | 1.97 | 1.38 | ||||||||||||||||||||||
(1) | Calculated as one-third of rentals. Considered a reasonable approximation of interest factor. |