Exhibit 12.1
Copano Energy, L.L.C. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(In Thousands)
Computation of Ratio of Earnings to Fixed Charges
(In Thousands)
Year ended December 31, | ||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Net income (loss) | $ | (8,681 | ) | $ | 23,158 | $ | 58,213 | $ | 63,175 | $ | 65,114 | |||||||||
Income taxes | 931 | 794 | 1,249 | 1,714 | — | |||||||||||||||
Equity in earnings from unconsolidated affiliates | 20,480 | (4,600 | ) | (6,889 | ) | (2,850 | ) | (1,297 | ) | |||||||||||
Pre-tax income from continuing operations | 12,730 | 19,352 | 52,573 | 62,039 | 63,817 | |||||||||||||||
Fixed charges | 57,423 | 60,069 | 69,339 | 30,753 | 34,011 | |||||||||||||||
Amortization of capitalized interest | 259 | 427 | 259 | 85 | 38 | |||||||||||||||
Distributions from unconsolidated affiliates | 25,955 | 29,684 | 25,830 | 4,382 | — | |||||||||||||||
Capitalized interest | (3,355 | ) | (3,362 | ) | (3,471 | ) | (932 | ) | (693 | ) | ||||||||||
Earnings for ratio calculation | $ | 93,012 | $ | 106,170 | $ | 144,530 | $ | 96,327 | $ | 97,173 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest and other financing costs | $ | 53,605 | $ | 55,836 | $ | 64,978 | $ | 29,351 | $ | 32,904 | ||||||||||
Capitalized interest | 3,355 | 3,362 | 3,471 | 932 | 693 | |||||||||||||||
Interest portion of operating leases | 463 | 871 | 890 | 470 | 414 | |||||||||||||||
Total fixed charges | 57,423 | $ | 60,069 | $ | 69,339 | $ | 30,753 | $ | 34,011 | |||||||||||
Ratio of earnings to fixed charges | 1.6x | 1.8x | 2.1x | 3.1x | 2.9x | |||||||||||||||