Exhibit 12.1
Breitburn Energy Partners LP
Computation of Ratio of Earnings to Fixed Charges
(In thousands)
| Year Ended December 31, | Nine Months Ended | |||||||||||||||||||||||
| 2009 | 2010 | 2011 | 2012 | 2013 | September 30, 2014 | |||||||||||||||||||
| Earnings Available for Fixed Charges | ||||||||||||||||||||||||
| Pre-tax income (loss) before income from equity investees | $ | (108,940 | ) | $ | 33,847 | $ | 111,050 | $ | (41,409 | ) | $ | (43,287 | ) | $ | 16,542 | |||||||||
| Add: | ||||||||||||||||||||||||
| Fixed charges | 32,966 | 36,855 | 43,538 | 67,990 | 88,766 | 92,076 | ||||||||||||||||||
| Amortization of capitalized interest | - | 39 | 24 | 27 | 52 | 52 | ||||||||||||||||||
| Distributed income of equity investments | 1,424 | 1,181 | 841 | 1,179 | 466 | 89 | ||||||||||||||||||
| Less: | ||||||||||||||||||||||||
| Capitalized interest | - | 270 | 77 | 54 | 128 | 238 | ||||||||||||||||||
| Preferred unit distributions | - | - | - | - | - | 5,225 | ||||||||||||||||||
| Total earnings available for fixed charges | $ | (74,550 | ) | $ | 71,651 | $ | 155,376 | $ | 27,732 | $ | 45,869 | $ | 103,295 | |||||||||||
| Fixed Charges | ||||||||||||||||||||||||
| Interest and other financing costs (a) | $ | 31,942 | $ | 35,909 | $ | 42,499 | $ | 66,729 | $ | 87,195 | $ | 90,598 | ||||||||||||
| Estimated interest within rental expense | 1,024 | 946 | 1,039 | 1,261 | 1,571 | 1,478 | ||||||||||||||||||
| Total fixed charges | $ | 32,966 | $ | 36,855 | $ | 43,538 | $ | 67,990 | $ | 88,766 | $ | 92,076 | ||||||||||||
| Ratio of Earnings to Fixed Charges | - | 1.9 | x | 3.6 | x | - | - | 1.1 | x | |||||||||||||||
| Insufficient Coverage | $ | (107,516 | ) | - | - | $ | (40,257 | ) | $ | (42,897 | ) | $ | - | |||||||||||
(a) Reflects interest costs before capitalization of interest and includes settlements paid on interest rate swaps.
