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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 |