Exhibit 12.1
Summit Midstream Partners, LP
Ratio of Earnings to Fixed Charges
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| Initial Predecessor |
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| to Summit |
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| Midstream |
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| Year Ended December 31, |
| Period From |
| Partners, LP |
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| September 3, 2009 |
| Period From |
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| Six Months Ended |
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| to December 31, |
| January 1, 2009 to |
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| June 30, 2013 |
| 2012 |
| 2011 |
| 2010 |
| 2009 |
| September 3, 2009 |
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Earnings:(1) |
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Income before income taxes |
| $ | 21,002 |
| $ | 42,408 |
| $ | 38,646 |
| $ | 8,296 |
| $ | (6,599 | ) | $ | (829 | ) |
Add (deduct): |
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Fixed charges |
| 6,042 |
| 15,791 |
| 6,579 |
| 70 |
| 9 |
| 247 |
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Capitalized interest |
| (970 | ) | (2,784 | ) | (3,362 | ) | — |
| — |
| — |
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Total earnings |
| $ | 26,074 |
| $ | 55,415 |
| $ | 41,863 |
| $ | 8,366 |
| $ | (6,590 | ) | $ | (582 | ) |
Fixed charges:(1) |
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Interest expense |
| $ | 4,903 |
| $ | 12,766 |
| $ | 3,054 |
| $ | — |
| $ | — |
| $ | 247 |
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Capitalized interest |
| 970 |
| 2,784 |
| 3,362 |
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| — |
| — |
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Estimate of interest within rental expense |
| 169 |
| 241 |
| 163 |
| 70 |
| 9 |
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Total fixed charges |
| $ | 6,042 |
| $ | 15,791 |
| $ | 6,579 |
| $ | 70 |
| $ | 9 |
| $ | 247 |
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Ratio of Earnings to Fixed Charges |
| 4.32 |
| 3.51 |
| 6.36 |
| 119.51 |
| (732.22 | )(2) | (2.36 | )(3) | ||||||
(1) | For purposes of this presentation, earnings represent income before income taxes adjusted for fixed charges and capitalized interest. Fixed charges consist of interest expensed and capitalized, amortization of deferred loan costs and an estimate of interest in rent expense. |
(2) | The ratio of earnings to fixed charges was less than 1:1 for the period from September 3, 2009 to December 31, 2009. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $6.6 million of earnings for the period from September 3, 2009 to December 31, 2009. |
(3) | The ratio of earnings to fixed charges was less than 1:1 for the period from January 1, 2009 to September 3, 2009. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $0.8 million of earnings for the period from January 1, 2009 to September 3, 2009. |
