EXHIBIT 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(UNAUDITED)
Atlas Resource Partners, L.P.
(amounts in thousands except ratios)
|
| Six Months Ended June 30, |
|
| |||||
|
| 2015 |
|
| 2014 |
|
| ||
Earnings: |
|
|
|
|
|
|
|
|
|
Net income (loss)(1) |
| $ | 40,762 |
|
| $ | (29,443 | ) |
|
Fixed Charges |
|
| 60,736 |
|
|
| 34,831 |
|
|
Equity income in unconsolidated company |
|
| — |
|
|
| — |
|
|
Interest capitalized |
|
| (7,966 | ) |
|
| (5,701 | ) |
|
Amortization of previously capitalized interest |
|
| 1,269 |
|
|
| 1,037 |
|
|
Total |
|
| 94,801 |
|
|
| 724 |
|
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
Interest cost and debt expense |
|
| 49,913 |
|
|
| 26,451 |
|
|
Interest capitalized |
|
| 7,966 |
|
|
| 5,701 |
|
|
Interest allocable to rental expense(2) |
|
| 2,857 |
|
|
| 2,679 |
|
|
Total Fixed Charges |
| $ | 60,736 |
|
| $ | 34,831 |
|
|
Preferred limited partner dividends |
|
| 7,887 |
|
|
| 8,823 |
|
|
Total Fixed Charges and Preferred Dividends |
| $ | 68,623 |
|
| $ | 43,654 |
|
|
Ratio of Earnings to Fixed Charges |
|
| 1.56 |
|
|
| 0.02 |
|
|
Ratio of Earnings to Fixed Charges and Preferred Dividends |
|
| 1.38 |
|
|
| 0.02 |
|
|
(1) | Includes gains on mark-to-market derivatives of $78.6 million for the six months ended June 30, 2015 and gains on asset sales and disposal of approximately $86,000 and losses of $1.6 million for the six months ended June 30, 2015 and 2014, respectively. |
(2) | Represents one-third of the total operating lease rental expense which is that portion deemed to be interest. |