Exhibit 12.1
Targa Resources Partners, LP
Computation of Ratio of Earnings to Fixed Charges
Years Ended December 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | 2013 | 2012 | ||||||||||||||||||||||
Pre-tax income (loss) from continuing operations | $ | 207.4 | $ | 249.8 | $ | 138.0 | $ | 8.4 | $ | 238.1 | $ | 145.5 | $ | 167.4 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense and amortization of debt issuance costs | 116.8 | 107.7 | 110.9 | 159.8 | 156.1 | 95.6 | 87.8 | |||||||||||||||||||||
Capitalized interest | 13.6 | 3.4 | 1.3 | 0.7 | 0.6 | 22.6 | 8.5 | |||||||||||||||||||||
Operating lease payments | 5.4 | 4.7 | 4.6 | 4.5 | 4.8 | 5.7 | 3.7 | |||||||||||||||||||||
Total fixed charges | 135.8 | 115.8 | 116.8 | 165.0 | 161.5 | 123.9 | 100.0 | |||||||||||||||||||||
Amortization of capitalized interest | 0.7 | 0.2 | 0.1 | 0.1 | 0.1 | 0.5 | 0.2 | |||||||||||||||||||||
Equity earnings in unconsolidated investment | (1.9 | ) | (8.8 | ) | (5.4 | ) | (5.0 | ) | (14.0 | ) | (10.1 | ) | 0.3 | |||||||||||||||
Distributions from unconsolidated investment | 2.3 | 8.3 | 8.7 | 5.1 | 4.6 | 12.0 | 2.3 | |||||||||||||||||||||
Capitalized interest | (13.6 | ) | (3.4 | ) | (1.3 | ) | (0.7 | ) | (0.6 | ) | (22.6 | ) | (8.5 | ) | ||||||||||||||
Pre-tax income from continuing operations plus fixed charges | $ | 330.6 | $ | 361.9 | $ | 256.9 | $ | 172.9 | $ | 389.7 | $ | 249.2 | $ | 261.7 | ||||||||||||||
Ratio of earnings to fixed charges | 2.4 | 3.1 | 2.2 | 1.0 | 2.4 | 2.0 | 2.6 | |||||||||||||||||||||
Deficiency | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - |