Titan Energy 10-Q 2015 Q1 Quarterly report

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.