Exhibit 12.1
BreitBurn Energy Partners L.P.
Computation of Ratio of Earnings to Fixed Charges
(In thousands)
| Year Ended December 31, | Six Months Ended June 30, 2013 | |||||||||||||||||||||||
| 2008 | 2009 | 2010 | 2011 | 2012 | ||||||||||||||||||||
Net income (loss) | $ | 378,236 | $ | (107,290 | ) | $ | 34,751 | $ | 110,497 | $ | (40,252 | ) | $ | 40,132 | ||||||||||
Income tax expense (benefit) | 1,939 | (1,528 | ) | (204 | ) | 1,188 | 84 | 604 | ||||||||||||||||
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Total earnings | 380,175 | (108,818 | ) | 34,547 | 111,685 | (40,168 | ) | 40,736 | ||||||||||||||||
Interest and other financing costs, net (a) | 30,107 | 19,851 | 25,498 | 40,204 | 62,521 | 37,660 | ||||||||||||||||||
Realized losses on interest rate swaps (b) | 2,916 | 13,115 | 11,087 | 3,257 | 5,469 | — | ||||||||||||||||||
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Total fixed charges | $ | 33,023 | $ | 32,966 | $ | 36,585 | $ | 43,461 | $ | 67,990 | $ | 37,660 | ||||||||||||
Ratio of earnings to fixed charges | 11.5x | (c) | 0.9x | 2.6x | (d) | 1.1x | ||||||||||||||||||
| (a) | Includes interest associated with operating leases. |
| (b) | Excludes 2008 Lehman termination. |
| (c) | Earnings were inadequate to cover fixed charges by $141.8 million for the year ended December 31, 2009. |
| (d) | Earnings were inadequate to cover fixed charges by $108.4 million for the year ended December 31, 2012. |
