CDM Resource Management S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

Regency Energy Partners LP

Ratio of Earnings to Fixed Charges

(in millions, except for ratio amounts)

(Unaudited)

			Successor							Predecessor
	Nine Months Ended September 30, 2013		Year Ended December 31, 2012		Year Ended December 31, 2011		Period from Acquisition (May 26, 2010) to December 31, 2010			Period from January 1, 2010 to May 25, 2010			Year Ended December 31, 2009		Year Ended December 31, 2008
Fixed charges:
Interest expense, net		119		122		103	$	48		$	35		$	78	$	63
Capitalized interest		—		1		1		1			1			2		3
Interest charges included in rental expense (c)		3		2		2		1			—			1		—
Distribution to the Series A Preferred Units		5		8		8		4			2			4		—
Accrection of the Series A Preferred Units		—		2		—		—			—			—		—
Total fixed charges (a)	$	127	$	135	$	114	$	54		$	38		$	85	$	66
Earnings:
Income (loss) from continuing operations before income taxes		23		34		74	$	(4	)	$	(5	)	$	142	$	87
Less:
Income from unconsolidated affiliates		103		105		120		54			16			8		—
Capitalized interest		—		1		1		1			1			2		3
Noncontrolling interest		4		2		2		—			—			—		—
Add:
Distributed income from unconsolidated affiliates		108		121		119		57			12			8		—
Fixed charges		127		135		114		54			38			85		66
Amortization of capitalized interest		1		—		1		—			1			—		—
Total earnings available for fixed charges (b)	$	152	$	182	$	185	$	52		$	29		$	225	$	150
Ratio of earnings to fixed charges (b)/(a)(1)		1.20		1.35		1.63		—			—			2.66		2.29
(1)    Earnings were insufficient to cover fixed charges by:	$	—	$	—	$	—	$	2		$	9		$	—	$	—

(c) Amount approximates reasonable interest expense included within operating lease payments.