EXHIBIT 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(UNAUDITED)
Atlas Resource Partners, L.P.
(amounts in thousands except ratios)
|
| Three Months Ended March 31, |
|
| |||||
|
| 2015 |
|
| 2014 |
|
| ||
Earnings: |
|
|
|
|
|
|
|
|
|
Net income (loss)(1) |
| $ | 85,637 |
|
| $ | (10,760 | ) |
|
Fixed Charges |
|
| 30,562 |
|
|
| 17,151 |
|
|
Equity income in unconsolidated company |
|
| — |
|
|
| — |
|
|
Interest capitalized |
|
| (3,885 | ) |
|
| (2,648 | ) |
|
Amortization of previously capitalized interest |
|
| 604 |
|
|
| 443 |
|
|
Total |
|
| 112,918 |
|
|
| 4,186 |
|
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
Interest cost and debt expense |
|
| 25,197 |
|
|
| 13,187 |
|
|
Interest capitalized |
|
| 3,885 |
|
|
| 2,648 |
|
|
Interest allocable to rental expense(2) |
|
| 1,480 |
|
|
| 1,316 |
|
|
Total Fixed Charges |
| $ | 30,562 |
|
| $ | 17,151 |
|
|
Preferred limited partner dividends |
|
| 3,653 |
|
|
| 4,399 |
|
|
Total Fixed Charges and Preferred Dividends |
| $ | 34,215 |
|
| $ | 21,550 |
|
|
Ratio of Earnings to Fixed Charges |
|
| 3.69 |
|
|
| 0.24 |
|
|
Ratio of Earnings to Fixed Charges and Preferred Dividends |
|
| 3.30 |
|
|
| 0.19 |
|
|
(1) | Includes gains on mark-to-market derivatives of $104.5 million for the three months ended March 31, 2015 and loss on asset sales and disposal of approximately $11,000 and $1.6 million for the three months ended March 31, 2015 and 2014, respectively. |
(2) | Represents one-third of the total operating lease rental expense which is that portion deemed to be interest. |