Exhibit 12.1. Computation of Ratio of Earnings to Fixed Charges
| Regency Energy Partners LP | |||||||
| Computation of Ratio of Earnings to Fixed Charges | |||||||
| (in thousands, except ratio amounts) | |||||||
| (Unaudited) | |||||||
| Three Months Ended | |||||||
| March 31, 2009 | March 31, 2008* | ||||||
| Earnings: | |||||||
| Pre-tax income from continuing operations | $ | 148,524 | $ | 10,671 | |||
| Add: | |||||||
| Interest expense | 14,227 | 15,406 | |||||
| Portion of rent under long-term operating | |||||||
| leases representative of an interest factor | 355 | 115 | |||||
| Amortization of capitalized interest | 92 | 61 | |||||
| Less: | |||||||
| Income from unconsolidated subsidiary | (336) | - | |||||
| Total earnings available for fixed charges | $ | 162,862 | $ | 26,253 | |||
| Fixed Charges: | |||||||
| Interest expense | $ | 14,227 | $ | 15,406 | |||
| Portion of rent under long-term operating | |||||||
| leases representative of an interest factor | 355 | 115 | |||||
| Capitalized interest | 875 | 369 | |||||
| Total fixed charges | $ | 15,457 | $ | 15,890 | |||
| Ratio of earnings to fixed charges (x times) | 10.54 | 1.65 | |||||
| * The ratio of earning to fixed charges for the three months ended March 31, 2008 is different from previously disclosed amount due to the impact of SFAS No. 161 "Non Controlling Interest in Consolidate Financial Statements- An Amendment to ARB No 51". | |||||||