Exhibit 12.1
Targa Resources Partners LP
Computation of Ratio of Earnings to Fixed Charges
| Years Ended December 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | 2014 | 2013 | ||||||||||||||||||||||
| (In millions) | ||||||||||||||||||||||||||||
| Pre-tax income from continuing operations | $ | 261.5 | $ | 207.4 | $ | 249.8 | $ | 138.0 | $ | 8.4 | $ | 394.2 | $ | 145.5 | ||||||||||||||
| Fixed charges: | ||||||||||||||||||||||||||||
| Interest expense and amortization of debt issuance costs | 131.0 | 116.8 | 107.7 | 110.9 | 159.8 | 104.1 | 95.6 | |||||||||||||||||||||
| Capitalized interest | 28.0 | 13.6 | 3.4 | 1.3 | 0.7 | 14.3 | 22.6 | |||||||||||||||||||||
| Operating lease payments | 7.8 | 5.4 | 4.7 | 4.6 | 4.5 | 6.4 | 5.7 | |||||||||||||||||||||
| Total fixed charges | 166.8 | 135.8 | 115.8 | 116.8 | 165.0 | 124.8 | 123.9 | |||||||||||||||||||||
| Amortization of capitalized interest | 1.7 | 0.7 | 0.2 | 0.1 | 0.1 | 0.9 | 0.5 | |||||||||||||||||||||
| Equity earnings in unconsolidated investment | (14.8 | ) | (1.9 | ) | (8.8 | ) | (5.4 | ) | (5.0 | ) | (13.8 | ) | (10.1 | ) | ||||||||||||||
| Distributions from unconsolidated investment | 12.0 | 2.3 | 8.3 | 8.7 | 5.1 | 18.0 | 12.0 | |||||||||||||||||||||
| Capitalized interest | (28.0 | ) | (13.6 | ) | (3.4 | ) | (1.3 | ) | (0.7 | ) | (14.3 | ) | (22.6 | ) | ||||||||||||||
| Pre-tax income from continuing operations plus fixed charges | $ | 399.2 | $ | 330.7 | $ | 361.9 | $ | 256.9 | $ | 172.9 | $ | 509.8 | $ | 249.2 | ||||||||||||||
| Ratio of earnings to fixed charges | 2.4 | 2.4 | 3.1 | 2.2 | 1.0 | 4.1 | 2.0 | |||||||||||||||||||||
| Deficiency | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||