Exhibit 12.1
WESTERN GAS PARTNERS, LP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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 | $ | 107,511 | $ | 147,744 | $ | 113,646 | $ | 29,003 | $ | 11,899 | ||||||||||
Add: Fixed charges | 10,331 | 880 | 6,712 | 10,411 | 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 | $ | 116,595 | $ | 149,022 | $ | 117,690 | $ | 38,795 | $ | 21,694 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 9,955 | $ | 364 | $ | 6,187 | $ | 9,515 | $ | 8,650 | ||||||||||
Interest component of lease expense | 376 | 516 | 525 | 896 | 1,145 | |||||||||||||||
Fixed charges | $ | 10,331 | $ | 880 | $ | 6,712 | $ | 10,411 | $ | 9,795 | ||||||||||
Ratio of earnings to fixed charges | 11.3 | x | 169.3 | x | 17.5 | x | 3.7 | x | 2.2 | x | ||||||||||
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