Exhibit 12.1
MMLP Ratio of Earnings to Fixed Charges
| Three | ||||||||||||||||||||||||||||
| January 1 | November 6 | Months | ||||||||||||||||||||||||||
| through | through | Year ended | Ended | |||||||||||||||||||||||||
| Years ended December 31, |
November 5, |
December 31, |
December 31, |
March 31, |
||||||||||||||||||||||||
| 1999 |
2000 |
2001 |
2002 |
2002 |
2003 |
2004 |
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| (In Thousands) | ||||||||||||||||||||||||||||
Pre-tax income before minority
interest and equity in earnings of
partnership |
($2,010 | ) | $ | 1,585 | $ | 5,936 | $ | 2,685 | $ | 2,310 | $ | 9,180 | $ | 3,109 | ||||||||||||||
Distributions from
partnership |
— | — | 394 | — | 891 | 3,564 | 594 | |||||||||||||||||||||
Fixed Charges |
7,315 | 8,197 | 5,600 | 3,435 | 345 | 2,001 | 704 | |||||||||||||||||||||
Earnings |
$ | 5,305 | $ | 9,782 | $ | 11,930 | $ | 6,120 | $ | 3,546 | $ | 14,745 | $ | 4,407 | ||||||||||||||
Fixed Charges
Interest Expense (includes any debt
amortization) |
$ | 7,049 | $ | 7,949 | $ | 5,390 | $ | 3,283 | $ | 345 | $ | 2,001 | $ | 704 | ||||||||||||||
Estimated interest element of rentals |
266 | 248 | 210 | 152 | — | — | — | |||||||||||||||||||||
Total Fixed Charges |
$ | 7,315 | $ | 8,197 | $ | 5,600 | $ | 3,435 | $ | 345 | $ | 2,001 | $ | 704 | ||||||||||||||
Ratio of Earnings to Fixed Charges |
0.73 | 1.19 | 2.13 | 1.78 | 10.28 | 7.37 | 6.26 | |||||||||||||||||||||