Exhibit 12.1
SemGroup Corporation |
Computation of Ratio of Earnings to Fixed Charges |
(dollars in thousands) |
| Nine Months Ended September 30, 2017 | Year Ended December 31, 2016 | Year Ended December 31, 2015 | Year Ended December 31, 2014 | Year Ended December 31, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||
Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | (105,509 | ) | $ | (49,185 | ) | $ | (11,425 | ) | $ | 5,352 | $ | (30,851 | ) | $ | (9,156 | ) | |||||||
Add: | ||||||||||||||||||||||||
Fixed Charges | 79,176 | 84,617 | 76,319 | 55,653 | 30,275 | 12,514 | ||||||||||||||||||
Amortizaton of capitalized interest | 2,646 | 2,319 | 1,986 | 1,893 | 1,838 | 1,762 | ||||||||||||||||||
Cash distributions from equity investees | 70,902 | 104,168 | 119,542 | 96,995 | 75,897 | 53,730 | ||||||||||||||||||
Subtract: | ||||||||||||||||||||||||
Capitalized interest | 15,430 | 16,973 | 1,471 | 1,201 | 1,341 | 809 | ||||||||||||||||||
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Pretax income as adjusted | $ | 31,785 | $ | 124,946 | $ | 184,951 | $ | 158,692 | $ | 75,818 | $ | 58,041 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 60,055 | $ | 62,650 | $ | 69,675 | $ | 49,044 | $ | 25,142 | $ | 8,902 | ||||||||||||
Interest capitalized | 15,430 | 16,973 | 1,471 | 1,201 | 1,341 | 809 | ||||||||||||||||||
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| 75,485 | 79,623 | 71,146 | 50,245 | 26,483 | 9,711 | |||||||||||||||||||
Portion of rents representative of an appropriate interest factor | 3,691 | 4,994 | 5,173 | 5,408 | 3,792 | 2,803 | ||||||||||||||||||
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Total fixed charges | $ | 79,176 | $ | 84,617 | $ | 76,319 | $ | 55,653 | $ | 30,275 | $ | 12,514 | ||||||||||||
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Ratio of earnings to fixed charges(1) | — | 1.5 | 2.4 | 2.9 | 2.5 | 4.6 | ||||||||||||||||||
| (1) | Earnings for the nine months ended September 30, 2017, were insufficient to cover fixed charges by $47.391 million. |