EX-12.1 2 ete2012ratio123112ex121.htm RATIO OF EARNINGS TO FIXED CHARGES ETE 2012 Ratio 12.31.12 EX 12.1


Exhibit 12.1

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

 
Years Ended December 31,
 
2012
 
2011
 
2010
 
2009
 
2008
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
1,018

 
$
740

 
$
625

 
$
468

 
$
358

Capitalized interest
101

 
14

 
29

 
16

 
22

Interest expense included in rental expense
6

 
3

 
3

 
3

 
1

Distribution to the Series A Convertible Redeemable Preferred Units
8

 
8

 
4

 
—

 
—

Accrection of the Series A Convertible Redeemable Preferred Units
1

 
—

 
—

 
—

 
—

Total fixed charges
1,134

 
765

 
661

 
487

 
381

Earnings:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
1,437

 
548

 
358

 
701

 
679

Less: equity in earnings (losses) of affiliates
212

 
117

 
65

 
20

 
—

Total earnings
1,225

 
431

 
293

 
681

 
679

Add:
 
 
 
 
 
 
 
 
 
Fixed charges
1,134

 
765

 
661

 
487

 
381

Amortization of capitalized interest
5

 
4

 
3

 
1

 
1

Distributed income of equity investees
208

 
117

 
65

 
—

 
—

Less:
 
 
 
 
 
 
 
 
 
Interest capitalized
(101
)
 
(14
)
 
(29
)
 
(16
)
 
(22
)
Income available for fixed charges
$
2,471

 
$
1,303

 
$
992

 
$
1,153

 
$
1,039

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.18

 
1.70

 
1.50

 
2.37

 
2.73