EX-12.1 4 h78808exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Buckeye Partners, L.P.
Computation of Ratio of Earnings to Fixed Charges
Dollars in Thousands
                                         
    Years Ended December 31,
    2006     2007     2008     2009     2010  
     
Earnings:
                                       
Income from continuing operations
  $ 8,734     $ 22,921     $ 26,477     $ 49,594     $ 43,080  
Equity income (greater than) less than distributions
    596       (135 )     (2,875 )     (2,871 )     3,316  
Less: capitalized interest
    (1,845 )     (1,469 )     (2,355 )     (3,401 )     (2,499 )
     
Total earnings
    7,485       21,317       21,247       43,322       43,897  
     
 
                                       
Fixed Charges:
                                       
Interest and debt expense
    60,702       51,721       75,410       75,147       89,169  
Capitalized interest
    1,845       1,469       2,355       3,401       2,499  
Portion of rentals representing an interest factor
    3,432       3,910       6,723       7,052       7,092  
     
Total fixed charges
    65,979       57,100       84,488       85,600       98,760  
     
 
                                       
Earnings available for fixed charges
  $ 73,464     $ 78,417     $ 105,735     $ 128,922     $ 142,657  
     
 
                                       
Ratio of earnings to fixed charges
    1.11       1.37       1.25       1.51       1.44