Exhibit 12.1
Earnings to Fixed Charges Ratio 2007-2011
AmeriGas Partners, L.P.
Computation of Ratio of Earnings to Fixed Charges
(thousands of dollars)
Year Ended September 30, | ||||||||||||||||||||
2007 | 2008 | 2009 | 2010 | 2011 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 194,243 | $ | 161,978 | $ | 230,203 | $ | 170,759 | $ | 141,314 | ||||||||||
Add: Interest expense | 71,487 | 72,886 | 70,340 | 65,106 | 63,518 | |||||||||||||||
Amortization of capitalized interest | — | — | — | 85 | 165 | |||||||||||||||
Estimated interest component of rental expense | 18,781 | 18,608 | 18,092 | 18,171 | 18,511 | |||||||||||||||
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$ | 284,511 | $ | 253,472 | $ | 318,635 | $ | 254,121 | $ | 223,508 | |||||||||||
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Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 71,487 | $ | 72,886 | $ | 70,340 | $ | 65,106 | $ | 63,518 | ||||||||||
Capitalized interest | — | — | 744 | 852 | 96 | |||||||||||||||
Estimated interest component of rental expense | 18,781 | 18,608 | 18,092 | 18,171 | 18,511 | |||||||||||||||
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$ | 90,268 | $ | 91,494 | $ | 89,176 | $ | 84,129 | $ | 82,125 | |||||||||||
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Ratio of earnings to fixed charges | 3.15 | 2.77 | 3.57 | 3.02 | 2.72 |