Exhibit 12.1
Regency Energy Partners LP
Ratio of Earnings to Fixed Charges
(in thousands, except for ratio amounts)
(Unaudited)
Successor | Predecessor | |||||||||||
Three Month Period ended March 31, 2011 | Three Month Period ended March 31, 2010 | |||||||||||
Fixed charges: | ||||||||||||
Interest expense, net | $ | 20,007 | $ | 20,482 | ||||||||
Capitalized interest | 457 | 401 | ||||||||||
Interest charges included in rental expense (c) | 203 | 177 | ||||||||||
Distributions to the Series A Convertible Redeemable Preferred Units | 1,945 | — | ||||||||||
Accretion of the Series A Convertible Redeemable Preferred Units | 48 | 55 | ||||||||||
Total fixed charges (a) | $ | 22,660 | $ | 21,115 | ||||||||
Earnings: | ||||||||||||
Income from continuing operations before income taxes | $ | 14,273 | $ | 783 | ||||||||
Less: | ||||||||||||
Income from unconsolidated subsidiaries | 23,808 | 7,913 | ||||||||||
Capitalized interest | 457 | 401 | ||||||||||
Noncontrolling interests | 231 | 162 | ||||||||||
Add: | ||||||||||||
Distributed income from unconsolidated subsidiaries | 25,270 | 3,526 | ||||||||||
Fixed charges | 22,660 | 21,115 | ||||||||||
Amortization of capitalized interest | 142 | 113 | ||||||||||
Total earnings available for fixed charges (b) | $ | 37,849 | $ | 17,061 | ||||||||
Ratio of earnings to fixed charges (b)/(a)(1) | 1.67 | — | ||||||||||
| ||||||||||||
(1) Earnings were insufficient to cover fixed charges by: | $ | — | $ | 4,054 | ||||||||
(c) Amount approximates reasonable interest expense included within operating lease payments. |