Exhibit 12.1
VALERO ENERGY PARTNERS LP
STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands)
Pro Forma | ||||||||
Nine Months Ended September 30, 2016 | Fiscal Year Ended December 31, 2015(a) | |||||||
Earnings: | ||||||||
Income before income taxes | $ | 124,356 | $ | 65,808 | ||||
Add: | ||||||||
Fixed charges | 11,983 | 8,521 | ||||||
Amortization of capitalized interest | 3 | 1 | ||||||
Less: | ||||||||
Capitalized interest | (48 | ) | (31 | ) | ||||
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Total Earnings | $ | 136,294 | 74,229 | |||||
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Fixed charges: | ||||||||
Interest and debt expenses, net of capitalized interest | $ | 15,038 | $ | 11,868 | ||||
Capitalized interest | 48 | 31 | ||||||
Rental expense interest factor (b) | 2,353 | 2,377 | ||||||
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Total fixed charges | $ | 17,439 | $ | 14,276 | ||||
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Ratio of earnings to fixed charges | 7.8 | x | 5.2 | x | ||||
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(a) | Amounts have been retrospectively adjusted for the acquisitions of businesses under common control. |
(b) | The interest portion of rental expense represents one-third of rents, which is deemed representative of the interest portion of rental expense. |