EX-12.1 10 h96435ex12-1.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 Company ---------------------------------- --------------------- 1997 1998 1999 2000(1) 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
------------------ (1) Includes the results of operations of Phillips' gas gathering, processing, marketing and NGL business for the nine months ended December 31, 2000. Phillips' gas gathering, processing, marketing and NGL business was acquired by the Predecessor Company on March 31, 2000.