EX-12.1 7 d270930dex121.htm STATEMENT REGARDING COMPUTATION OF RATIOS Statement regarding computation of ratios

EXHIBIT 12.1

CALUMET SPECIALTY PRODUCTS PARTNERS, L.P.

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

     Year Ended December 31,  
     2007      2008      2009      2010      2011  
     (Unaudited)  

Earnings

               

Income from continuing operations

    $ 83,375       $ 44,694       $ 61,936       $ 17,299       $ 43,965   

Fixed charges less capitalized interest

      11,539         45,450         44,903         41,910         60,257   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Earnings from continuing operations before fixed charges

    $ 94,914       $ 90,144       $ 106,839       $ 59,209       $ 104,222   

Fixed Charges

               

Interest expense, net of capitalized interest

    $ 4,717       $ 33,938       $ 33,573       $ 30,497       $ 48,747   

Capitalized interest, net of amortization

      4,501         6,909         575         380         592   

Estimated interest within rental expense

      6,822         11,512         11,330         11,413         11,510   

Total fixed charges

    $ 16,040       $ 52,359       $ 45,478       $ 42,290       $ 60,849   

Ratio of earnings to fixed charges

      5.92         1.72         2.35         1.40         1.71   

For purposes of determining the ratio of earnings to fixed charges, earnings are defined as pre-tax income from continuing operations plus the following (a) fixed charges, and (b) amortization of capitalized interest, less interest capitalized. Fixed charges consist of interest expensed and capitalized plus (a) amortized discounts and capitalized expenses related to indebtedness, and (b) an estimate of the interest within rental expense.