Targa Resources Partners (NGLS-PA) 10-Q 2015 Q2 Quarterly report

Exhibit 12.1

Targa Resources Partners LP

Computation of Ratio of Earnings to Fixed Charges

	Years Ended December 31,															Six Months Ended June 30,
	2014			2013			2012			2011			2010			2015			2014
	(In millions)
Pre-tax income from continuing operations	$	509.9		$	261.5		$	207.4		$	249.8		$	138.0		$	131.9		$	254.6
Fixed charges:
Interest expense and amortization of debt issuance costs		143.8			131.0			116.8			107.7			110.9			113.1			68.1
Capitalized interest		16.1			28.0			13.6			3.4			1.3			5.5			11.5
Operating lease payments		8.2			7.8			5.4			4.7			4.6			6.1			4.3
Total fixed charges		168.1			166.8			135.8			115.8			116.8			124.7			83.9
Amortization of capitalized interest		2.8			1.7			0.7			0.2			0.1			1.2			1.0
Equity earnings in unconsolidated affiliates		(18.0	)		(14.8	)		(1.9	)		(8.8	)		(5.4	)		(0.5	)		(9.1	)
Distributions from unconsolidated affiliates		23.7			12.0			2.3			8.3			8.7			7.0			12.7
Capitalized interest		(16.1	)		(28.0	)		(13.6	)		(3.4	)		(1.3	)		(5.5	)		(11.5	)
Income as adjusted	$	670.4		$	399.2		$	330.7		$	361.9		$	256.9		$	258.8		$	331.6
Ratio of earnings to fixed charges		4.0			2.4			2.4			3.1			2.2			2.1			4.0