Exhibit 12.1
Holly Energy Partners, L.P.
Computation of Ratio of Earnings
To Fixed Charges
(In thousands)
Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Income before income taxes | $ | 35,197 | $ | 111,061 | $ | 83,588 | $ | 88,112 | $ | 70,271 | $ | 54,132 | ||||||||||||
Share of distributed income of 50%-or-less-owned affiliates | 734 | 2,987 | 2,826 | 3,364 | 2,552 | 2,393 | ||||||||||||||||||
Fixed charges | 9,739 | 40,188 | 50,139 | 49,918 | 39,208 | 36,598 | ||||||||||||||||||
Interest capitalized | (278 | ) | (1,510 | ) | (642 | ) | (277 | ) | (891 | ) | (455 | ) | ||||||||||||
Amortization of capitalized interest | 52 | 197 | 142 | 118 | 108 | 76 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Earnings | $ | 45,444 | $ | 152,923 | $ | 136,053 | $ | 141,235 | $ | 111,248 | $ | 92,744 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 8,768 | $ | 36,101 | $ | 47,010 | $ | 47,182 | $ | 35,959 | $ | 34,001 | ||||||||||||
Interest capitalized | 278 | 1,510 | 642 | 277 | 891 | 455 | ||||||||||||||||||
Estimate of interest in Rental expense | 693 | 2,577 | 2,487 | 2,459 | 2,358 | 2,142 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed charges | $ | 9,739 | $ | 40,188 | $ | 50,139 | $ | 49,918 | $ | 39,208 | $ | 36,598 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of Earnings to Fixed Charges | 4.67 | 3.81 | 2.71 | 2.83 | 2.84 | 2.53 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|