EX-12.1 2 eteratio123111ex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ETE Ratio 12.31.11 EX 12.1


Exhibit 12.1

ENERGY TRANSFER EQUITY, L.P.
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except for ratio amounts)
(Unaudited)

 
Years Ended December 31,
 
Four Months Ended December 31, 2007
 
Year Ended August 31, 2007
 
2011
 
2010
 
2009
 
2008
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
739,811

 
$
624,887

 
$
468,420

 
$
357,541

 
$
103,375

 
$
279,986

Capitalized interest
13,996

 
29,182

 
14,971

 
21,595

 
12,657

 
22,979

Interest expense included in rental expense
3,134

 
2,550

 
2,121

 
1,843

 
1,010

 
3,562

Distribution to the Series A Convertible Redeemable Preferred Units
7,781

 
3,891

 
—

 
—

 
—

 
—

Accrection of the Series A Convertible Redeemable Preferred Units
201

 
150

 
—

 
—

 
—

 
—

Total fixed charges
764,923

 
660,660

 
485,512

 
380,979

 
117,042

 
306,527

Earnings:
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
545,130

 
351,562

 
707,100

 
683,562

 
192,758

 
563,359

Less: equity in earnings (losses) of affiliates
117,188

 
65,220

 
20,597

 
(165
)
 
(94
)
 
5,161

Total earnings
427,942

 
286,342

 
686,503

 
683,727

 
192,852

 
558,198

Add:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
764,923

 
660,660

 
485,512

 
380,979

 
117,042

 
306,527

Amortization of capitalized interest
3,691

 
2,705

 
1,699

 
1,167

 
223

 
149

Distributed income of equity investees
120,263

 
145,195

 
—

 
—

 
4,319

 
—

Less:
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
(13,996
)
 
(29,182
)
 
(14,971
)
 
(21,595
)
 
(12,657
)
 
(22,979
)
Income available for fixed charges
1,302,823

 
1,065,720

 
1,158,743

 
1,044,278

 
301,779

 
841,895

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.70

 
1.61

 
2.39

 
2.74

 
2.58

 
2.75