Exhibit 12.1
Regency Energy Partners LP
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except for ratio amounts)
(Unaudited)
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except for ratio amounts)
(Unaudited)
Successor | Predecessor | ||||||||||||||||||||||||||||
Period from | Period from | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||
May 26, 2010 to | January 1, 2010 | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||
June 30, 2010 | to May 25, 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||||||
Pre-tax income (loss) from continuing operations | $ | (4,650 | ) | (4,542 | ) | $ | 139,394 | $ | 101,062 | $ | (12,600 | ) | $ | (7,244 | ) | $ | (11,592 | ) | |||||||||||
Add: | |||||||||||||||||||||||||||||
Interest expense | 8,109 | 36,459 | 77,996 | 63,243 | 52,016 | 37,182 | 17,880 | ||||||||||||||||||||||
Portion of rent under long-term operating leases representative of an interest factor | 65 | 323 | 1,182 | 677 | 477 | 574 | 477 | ||||||||||||||||||||||
Amortization of capitalized interest | 39 | 193 | 411 | 279 | 186 | 131 | — | ||||||||||||||||||||||
(Less) add: | |||||||||||||||||||||||||||||
Non-cash income from unconsolidated subsidiaries | (8,121 | ) | (3,426 | ) | — | — | (43 | ) | (532 | ) | (312 | ) | |||||||||||||||||
Total earnings available for fixed charges | $ | (4,558 | ) | $ | 29,007 | $ | 218,983 | $ | 165,261 | $ | 40,036 | $ | 30,111 | $ | 6,453 | ||||||||||||||
Fixed Charges: | |||||||||||||||||||||||||||||
Interest expense | 8,109 | 36,459 | 77,996 | 63,243 | 52,016 | 37,182 | 17,880 | ||||||||||||||||||||||
Portion of rent under long-term operating leases representative of an interest factor | 65 | 323 | 1,182 | 677 | 477 | 574 | 477 | ||||||||||||||||||||||
Capitalized interest | 377 | 880 | 1,722 | 2,409 | 1,754 | 511 | 2,613 | ||||||||||||||||||||||
Total fixed charges | $ | 8,551 | $ | 37,662 | $ | 80,900 | $ | 66,329 | $ | 54,247 | $ | 38,267 | $ | 20,970 | |||||||||||||||
Ratio of earnings to fixed charges (x times) (1) | — | — | 2.71 | 2.49 | — | — | — | ||||||||||||||||||||||
(1) Earnings were insufficient to cover fixed charges by: | $ | 13,109 | $ | 8,656 | $ | — | $ | — | $ | 14,211 | $ | 8,156 | $ | 14,517 |