EX-12.1 2 d553375dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

CRESTWOOD MIDSTREAM PARTNERS LP

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except for ratio)

 

     For the Three Months Ended     For the Six Months Ended  
     June 30,     June 30,  
     2013     2012     2013     2012  

Earnings

         

Income before income taxes

    $ 5,209      $ 7,073      $ 14,505      $ 17,181   

Fixed charges

      11,900        9,636        24,045        18,030   

Capitalized interest

      (121 )      (105 )      (121 )      (196 ) 

Amortized capitalized interest

      26        21        52        42   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings available for fixed charges

    $ 17,014      $ 16,625      $ 38,481      $ 35,057   
  

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges

         

Interest and debt expense

    $ 11,307      $ 9,069      $ 22,757      $ 16,716   

Interest component of rent

      593        567        1,288        1,314   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 11,900      $ 9,636      $ 24,045      $ 18,030   
  

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges(1)

      1.4        1.7        1.6        1.9   
  

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) For purposes of computing the ratio of earnings to fixed charges, “earnings” consists of pretax income from continuing operations plus fixed charges (excluding capitalized interest) and amortized capitalized interest. “Fixed charges” represents interest incurred (whether expensed or capitalized), amortization of debt costs and that portion of rental expense on operating leases deemed to be the equivalent of interest.