Attached files
Exhibit 12.1
Targa Resources Partners LP
Computation of Ratio of Earnings to Fixed Charges
|
Years Ended December 31,
|
||||||||||||||||||||
|
2014
|
2013
|
2012
|
2011
|
2010
|
||||||||||||||||
|
(In millions)
|
||||||||||||||||||||
|
Pre-tax income from continuing operations
|
$
|
509.9
|
$
|
261.5
|
$
|
207.4
|
$
|
249.8
|
$
|
138.0
|
||||||||||
|
Fixed charges:
|
||||||||||||||||||||
|
Interest expense and amortization of debt issuance costs
|
143.8
|
131.0
|
116.8
|
107.7
|
110.9
|
|||||||||||||||
|
Capitalized interest
|
16.1
|
28.0
|
13.6
|
3.4
|
1.3
|
|||||||||||||||
|
Operating lease payments
|
8.2
|
7.8
|
5.4
|
4.7
|
4.6
|
|||||||||||||||
|
Total fixed charges
|
168.1
|
166.8
|
135.8
|
115.8
|
116.8
|
|||||||||||||||
|
Amortization of capitalized interest
|
2.8
|
1.7
|
0.7
|
0.2
|
0.1
|
|||||||||||||||
|
Equity earnings in unconsolidated investment
|
(18.0
|
)
|
(14.8
|
)
|
(1.9
|
)
|
(8.8
|
)
|
(5.4
|
)
|
||||||||||
|
Distributions from unconsolidated investment
|
23.7
|
12.0
|
2.3
|
8.3
|
8.7
|
|||||||||||||||
|
Capitalized interest
|
(16.1
|
)
|
(28.0
|
)
|
(13.6
|
)
|
(3.4
|
)
|
(1.3
|
)
|
||||||||||
|
Income as adjusted
|
$
|
670.4
|
$
|
399.2
|
$
|
330.7
|
$
|
361.9
|
$
|
256.9
|
||||||||||
|
Ratio of earnings to fixed charges
|
4.0
|
2.4
|
2.4
|
3.1
|
2.2
|
|||||||||||||||