Exhibit 12.1
WESTERN GAS PARTNERS, LP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 87,617 | $ | 95,554 | $ | 55,894 | $ | 18,028 | $ | 11,899 | ||||||||||
Add: Fixed charges | 10,017 | 1,859 | 8,197 | 10,402 | 9,795 | |||||||||||||||
Distributions from equity investee | 5,487 | 5,128 | 1,349 | 741 | — | |||||||||||||||
Amortization of capitalized interest | 248 | 6 | — | — | — | |||||||||||||||
Less: Equity income | 6,982 | 4,736 | 4,017 | 1,360 | — | |||||||||||||||
Earnings | $ | 96,387 | $ | 97,811 | $ | 61,423 | $ | 27,811 | $ | 21,694 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 9,955 | $ | 1,512 | $ | 7,805 | $ | 9,574 | $ | 8,650 | ||||||||||
Interest component of lease expense | 62 | 347 | 392 | 828 | 1,145 | |||||||||||||||
Fixed charges | $ | 10,017 | $ | 1,859 | $ | 8,197 | $ | 10,402 | $ | 9,795 | ||||||||||
Ratio of earnings to fixed charges | 9.6 | x | 52.6 | x | 7.5 | x | 2.7 | x | 2.2 | x | ||||||||||