Exhibit 12.2
RATIO OF EARNINGS TO FIXED CHARGES OF ETP RETAIL HOLDINGS, LLC
(in thousands, except ratios)
(Unaudited)
Year Ended December 31, | Three Months Ended | |||||||||||||||
2013 | 2014 | 2015 | March 31, 2016 | |||||||||||||
Actual | Actual | Actual | Actual | |||||||||||||
Earnings: | ||||||||||||||||
Consolidated pretax income (loss) from continuing operations | 172,935 | 203,074 | 328,465 | 20,552 | ||||||||||||
Noncontrolling interest | ||||||||||||||||
Fixed charges | 11,230 | 18,830 | — | — | ||||||||||||
Amortization of capitalized interest | — | — | — | — | ||||||||||||
Less: equity in earnings (losses) of unconsolidated affiliates | (33,141 | ) | 84,976 | 303,948 | 20,552 | |||||||||||
Add: distributed income of equity investees | 12,204 | 2,144 | 48,511 | 3,829 | ||||||||||||
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Total earnings available for fixed charges | 229,510 | 139,072 | 73,028 | 3,829 | ||||||||||||
Fixed Charges: | — | |||||||||||||||
Interest expense | 2,499 | 7,648 | — | — | ||||||||||||
Capitalized interest | — | — | — | — | ||||||||||||
Estimated interest portion of rent expense | 8,731 | 11,182 | — | — | ||||||||||||
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Total fixed charges | 11,230 | 18,830 | — | — | ||||||||||||
Ratio of earnings to fixed charges | 20.44 | 7.39 | ** | ** |
(**) | Beginning in 2015, ETP Retail no longer has fixed charges; therefore, a ratio has not been included as such ratio is not meaningful. |