Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(Unaudited)
Atlas Pipeline Partners, L.P.
(amounts in thousands except ratios)
(amounts in thousands except ratios)
Three months ended | ||||||||||||||||||||||||
March 31, | Years ended December 31, | |||||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before income tax expense | $ | 2,459 | $ | 33,665 | $ | 25,752 | $ | 18,334 | $ | 9,639 | $ | 5,398 | ||||||||||||
Fixed charges | 7,227 | 25,901 | 14,773 | 2,575 | 341 | 317 | ||||||||||||||||||
Interest capitalized | (530 | ) | (2,636 | ) | — | — | — | — | ||||||||||||||||
Amortization of previously capitalized interest | 23 | 40 | — | — | — | — | ||||||||||||||||||
Total | $ | 9,179 | $ | 55,970 | $ | 40,525 | $ | 20,909 | $ | 9,980 | $ | 5,715 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest cost and debt expense | 6,759 | 24,572 | 14,175 | 2,301 | 258 | 250 | ||||||||||||||||||
Interest allocable to rental expense(1) | 468 | 1,329 | 675 | 274 | 83 | 67 | ||||||||||||||||||
Interest capitalized | — | — | (77 | ) | — | — | — | |||||||||||||||||
Amortization of previously capitalized interest | — | — | — | — | — | — | ||||||||||||||||||
Total | $ | 7,227 | $ | 25,901 | $ | 14,773 | $ | 2,575 | $ | 341 | $ | 317 | ||||||||||||
Ratio of Earnings to Fixed Charges | 1.3 | 2.2 | 2.7 | 8.1 | 29.3 | 18.0 | ||||||||||||||||||
(1) | Represents one-third of the total operating lease rental expense which is that portion deemed to be interest. |