EX-12.1 4 d95180ex12-1.txt CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 Duke Energy Field Services, LLC Computation of Ratio of Earnings to Fixed Charges
Predecessor Company Historical ------------------------------------------------- Years Ended ------------------------------------------------- 1997 1998 1999 2000 2001 --------- --------- --------- --------- --------- Earnings: Pretax income from continuing operations before equity earnings $ 74,834 $ (6,528) $ 51,856 $ 341,800 $ 337,097 Add: Fixed charges 54,177 54,791 55,021 151,567 168,789 Distributed income of equity investees 9,784 11,845 22,502 31,656 41,278 Subtract: Interest Capitalized 2,254 1,565 930 324 769 --------- --------- --------- --------- --------- Income as adjusted $ 136,541 $ 58,543 $ 128,449 $ 524,699 $ 546,395 --------- --------- --------- --------- --------- Fixed charges: Interest and Debt expense per Statement of Income $ 51,113 $ 52,403 $ 52,915 $ 149,220 $ 165,670 Capitalized Interest 2,254 1,565 930 324 769 Portion of rents representative of the interest factor 810 823 1,176 2,023 2,350 --------- --------- --------- --------- --------- TOTAL FIXED CHARGES $ 54,177 $ 54,791 $ 55,021 $ 151,567 $ 168,789 --------- --------- --------- --------- --------- RATIO OF EARNINGS TO FIXED CHARGES 2.52 1.07 2.33 3.46 3.24