EX-12.1 2 ete2014ratio123114ex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ETE 2014 Ratio 12.31.14 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,
 
2014
 
2013
 
2012
 
2011
 
2010
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
1,369

 
$
1,221

 
$
1,018

 
$
740

 
$
625

Capitalized interest
113

 
45

 
101

 
14

 
29

Interest expense included in rental expense
17

 
16

 
6

 
3

 
3

Distribution to the Series A Convertible Redeemable Preferred Units
3

 
6

 
8

 
8

 
4

Accretion of the Series A Convertible Redeemable Preferred Units
—

 
—

 
1

 
—

 
—

Total fixed charges
1,502

 
1,288

 
1,134

 
765

 
661

Earnings:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
1,417

 
375

 
1,437

 
548

 
358

Less: equity in earnings of affiliates
332

 
236

 
212

 
117

 
65

Total earnings
1,085

 
139

 
1,225

 
431

 
293

Add:
 
 
 
 
 
 
 
 
 
Fixed charges
1,502

 
1,288

 
1,134

 
765

 
661

Amortization of capitalized interest
8

 
7

 
5

 
4

 
3

Distributed income of equity investees
291

 
236

 
208

 
117

 
65

Less:
 
 
 
 
 
 
 
 
 
Interest capitalized
(113
)
 
(45
)
 
(101
)
 
(14
)
 
(29
)
Income available for fixed charges
$
2,773

 
$
1,625

 
$
2,471

 
$
1,303

 
$
993

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.85

 
1.26

 
2.18

 
1.70

 
1.50