EX-12.1 6 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Regency Energy Partners LP

Ratio of Earnings to Fixed Charges

(in thousands, except for ratio amounts)

(Unaudited)

 

    Regency Energy Partners LP          Regency LLC
Predecessor
    Year Ended
December 31,
2008		   Year Ended
December 31,
2007		     Year Ended
December 31,
2006		     Year Ended
December 31,
2005		     Period from
Acquisition
(December 1, 2004)
to December 31,
2004		          Period from
January 1,
2004 to
November 30,
2004

Earnings:

                

Pre-tax income (loss) from continuing operations

   $ 101,062   $ (12,600 )   $ (7,244 )   $ (11,592 )   $ 1,474         $ 20,137

Add:

                

Interest expense

     63,243     52,016       37,182       17,880       1,335           5,097

Portion of rent under long-term operating leases representative of an interest factor

     677     477       574       477       43           468

Amortization of capitalized interest

     279     186       131       —         —             —  

Distributed income from investees accounted for under equity method

     —       —         —         —         —             280

Less:

                

Equity income

     —       (43 )     (532 )     (312 )     (56 )         —  
                                               

Total earnings available for fixed charges

   $ 165,261   $ 40,036     $ 30,111     $ 6,453     $ 2,796         $ 25,982
                                               

Fixed Charges:

                

Interest expense

     63,243     52,016       37,182       17,880       1,335           5,097

Portion of rent under long-term operating leases representative of an interest factor

     677     477       574       477       43           468

Capitalized interest

     2,409     1,754       511       2,613       —             —  
                                               

Total fixed charges

   $ 66,329   $ 54,247     $ 38,267     $ 20,970     $ 1,378         $ 5,565
                                               

Ratio of earnings to fixed charges (x times)(1)

     2.49     —         —         —         2.03           4.67

 

(1) Earnings were insufficient to cover fixed charges by:

   $ —     $ 14,211     $ 8,156     $ 14,517     $ —           $ —