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Previous: KANEB PIPE LINE OPERATING PARTNERSHIP LP, S-3, 2000-08-28 |
Next: KANEB PIPE LINE OPERATING PARTNERSHIP LP, S-3, EX-23.1, 2000-08-28 |
<PAGE>
EXHIBIT 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31, SIX MONTHS
---------------------------------------------------------- ENDED
JUNE 30,
1995 1996 1997 1998 1999 2000
--------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
(in thousands)
EARNINGS
Income Before Minority Interest
and Income Taxes $ 37,035 $ 41,132 $ 42,699 $ 44,525 $ 51,431 22,042
Equity in Earnings of Affiliate,
Net of Distributions - - - (576) (1,072) 662
Fixed Charges 6,737 11,433 11,768 11,657 14,128 6,452
--------- ---------- ---------- ---------- ---------- ----------
$ 43,772 $ 52,565 $ 54,467 $ 55,606 $ 64,487 $ 29,156
========= ========== ========== ========== ========== ==========
FIXED CHARGES
Interest Expense $ 6,437 $ 11,033 $ 11,332 $ 11,304 $ 13,390 $ 5,980
Rental Interest Factor 300 400 436 353 738 472
--------- ---------- ---------- ---------- ---------- ----------
$ 6,737 $ 11,433 $ 11,768 $ 11,657 $ 14,128 $ 6,452
========= ========== ========== ========== ========== ==========
RATIO: EARNINGS/FIXED CHARGES 6.50 4.60 4.63 4.77 4.56 4.52
========= ========== ========== ========== ========== ==========
</TABLE>
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