Exhibit 12.1
Copano Energy, L.L.C. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(In Thousands)
Nine Months ended September 30, | Year ended December 31, | |||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Net income (loss) | $ | (163,565 | ) | $ | (8,681 | ) | $ | 23,158 | $ | 58,213 | $ | 63,175 | $ | 65,114 | ||||||||||
Income taxes | 1,161 | 931 | 794 | 1,249 | 1,714 | — | ||||||||||||||||||
Equity in earnings from unconsolidated affiliates | 158,581 | 20,480 | (4,600 | ) | (6,889 | ) | (2,850 | ) | (1,297 | ) | ||||||||||||||
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Pre-tax income from continuing operations | (3,823 | ) | 12,730 | 19,352 | 52,573 | 62,039 | 63,817 | |||||||||||||||||
Fixed charges | 42,233 | 57,423 | 60,069 | 69,339 | 30,753 | 34,011 | ||||||||||||||||||
Amortization of capitalized interest | 872 | 259 | 427 | 259 | 85 | 38 | ||||||||||||||||||
Distributions from unconsolidated affiliates | 20,329 | 25,955 | 29,684 | 25,830 | 4,382 | — | ||||||||||||||||||
Capitalized interest | (7,402 | ) | (3,355 | ) | (3,362 | ) | (3,471 | ) | (932 | ) | (693 | ) | ||||||||||||
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Earnings for ratio calculation | 52,209 | $ | 93,012 | $ | 106,170 | $ | 144,530 | $ | 96,327 | $ | 97,173 | |||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest and other financing costs | 34,450 | $ | 53,605 | $ | 55,836 | $ | 64,978 | $ | 29,351 | $ | 32,904 | |||||||||||||
Capitalized interest | 7,402 | 3,355 | 3,362 | 3,471 | 932 | 693 | ||||||||||||||||||
Interest portion of operating leases | 381 | 463 | 871 | 890 | 470 | 414 | ||||||||||||||||||
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Total fixed charges | 42,233 | 57,423 | $ | 60,069 | $ | 69,339 | $ | 30,753 | $ | 34,011 | ||||||||||||||
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Ratio of earnings to fixed charges | 1.2x | 1.6x | 1.8x | 2.1x | 3.1x | 2.9x | ||||||||||||||||||
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Exhibit 12.1