EX-12.1 5 d04125exv12w1.txt EX-12.1 CALCULATION OF RATIO OF EARNINGS . . . EXHIBIT 12.1 DUKE ENERGY FIELD SERVICES, LLC COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended ----------------------------------------------------- 1998 1999 2000 2001 2002 Predecessor Company Historical -------------------------------- Earnings: Pretax income from continuing operations before equity earnings (6,528) 51,856 341,800 337,032 (74,738) Add: Fixed charges 54,791 55,021 151,567 168,789 172,341 Distributed income of equity investees 11,845 22,502 27,424 30,069 53,878 Subtract: Interest Capitalized 1,565 930 324 769 4,702 -------- -------- -------- -------- -------- Income as adjusted 58,543 128,449 520,467 535,121 146,779 -------- -------- -------- -------- -------- Fixed charges: Interest and Debt expense per Statement of Income 52,403 52,915 149,220 165,670 165,841 Capitalized Interest 1,565 930 324 769 4,702 Portion of rents representative of the interest factor 823 1,176 2,023 2,350 1,798 -------- -------- -------- -------- -------- TOTAL FIXED CHARGES 54,791 55,021 151,567 168,789 172,341 -------- -------- -------- -------- -------- RATIO OF EARNINGS TO FIXED CHARGES 1.07 2.33 3.43 3.17 0.85 Amount Needed to cover fixed charges: 25,562