EX-12.1 5 ex12112311710k.htm EXHIBIT 12.1 Exhibit
EXHIBIT 12.1


WESTLAKE CHEMICAL PARTNER LP
RATIO OF EARNINGS TO FIXED CHARGES
(millions of dollars)
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings
 
 
 
 
 
 
 
 
 
 
Income before Income Taxes
 
$
354,338

 
$
354,438

 
$
354,525

 
$
709,208

 
$
846,825

Fixed Charges
 
23,099

 
19,414

 
11,125

 
14,323

 
9,343

Amortization of capitalized interest
 
540

 
472

 
228

 
24

 
—

Equity Investee Distributions
 
—

 
—

 
—

 
4,045

 
5,114

less: capitalized interest
 
(435
)
 
(5,960
)
 
(5,116
)
 
(2,638
)
 
—

Equity Investment (Income) Loss
 
—

 
—

 
—

 
(2,973
)
(4,711
)
(4,711
)
Total Earnings Available for Fixed Charges
 
$
377,542

 
$
368,364

 
$
360,762

 
$
721,989

 
$
856,571

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
$
21,861

 
$
12,607

 
$
4,967

 
$
10,499

 
$
8,032

Capitalized Interest
 
435

 
5,960

 
5,116

 
2,638

 
—

Interest within rental expense
 
803

 
847

 
1,042

 
1,186

 
1,311

Total Fixed Charges
 
$
23,099

 
$
19,414

 
$
11,125

 
$
14,323

 
$
9,343

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
16.3

 
19.0

 
32.4

 
50.4

 
91.7