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 | Nine Months Ended | |||||||||||||||
| September 30, 2009 | September 30, 2008 | September 30, 2009 | September 30, 2008 | |||||||||||||
| Earnings: | ||||||||||||||||
| Pre-tax (loss) income from continuing operations | $ | (10,739 | ) | $ | 49,002 | $ | 143,225 | $ | 69,534 | |||||||
| Add: | ||||||||||||||||
| Interest expense | 22,173 | 16,072 | 55,968 | 48,261 | ||||||||||||
Portion of rent under long-term operating leases representative of an interest factor | 262 | 172 | 916 | 504 | ||||||||||||
| Amortization of capitalized interest | 106 | 73 | 301 | 200 | ||||||||||||
| Less: | ||||||||||||||||
| Noncash income from unconsolidated subsidiary | (245 | ) | - | (268 | ) | - | ||||||||||
| Total earnings available for fixed charges | $ | 11,557 | $ | 65,319 | $ | 200,142 | $ | 118,499 | ||||||||
| Fixed Charges: | ||||||||||||||||
| Interest expense | $ | 22,173 | $ | 16,072 | $ | 55,968 | $ | 48,261 | ||||||||
Portion of rent under long-term operating leases representative of an interest factor | 262 | 172 | 916 | 504 | ||||||||||||
| Capitalized interest | 339 | 473 | 1,475 | 1,407 | ||||||||||||
| Total fixed charges | $ | 22,774 | $ | 16,717 | $ | 58,359 | $ | 50,172 | ||||||||
| Ratio of earnings to fixed charges (x times) (1) | 0.51 | 3.91 | * | 3.43 | 2.36 | * | ||||||||||
| (1) Earnings were insufficient to cover fixed charges by: | $ | 11,217 | $ | - | $ | - | $ | - | ||||||||
| * The ratio of earning to fixed charges for the three and nine months ended September 30, 2008 are different from previously disclosed. | ||||||||||||||||