Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - DCP Midstream, LP | d8k.htm |
| EX-99.1 - RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION - DCP Midstream, LP | dex991.htm |
Exhibit 12.1
DCP MIDSTREAM PARTNERS, LP
RATIO OF EARNINGS TO FIXED CHARGES
| YTD 6/30/2010 |
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||
| Earnings as defined for fixed charges calculation |
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| Add: |
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| Pretax income (loss) from continuing operations before earnings from unconsolidated affiliates |
37.6 | (37.0 | ) | 124.3 | (25.0 | ) | 58.4 | 76.4 | ||||||||
| Fixed charges |
14.8 | 30.3 | 33.6 | 27.0 | 12.6 | 1.5 | ||||||||||
| Amortization of capitalized interest |
0.1 | 0.1 | 0.1 | — | — | — | ||||||||||
| Distributed income of unconsolidated affiliates |
14.5 | 18.6 | 18.2 | 23.5 | 16.4 | 11.2 | ||||||||||
| Less: |
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| Capitalized interest |
— | (1.3 | ) | (0.3 | ) | (0.2 | ) | (0.4 | ) | — | ||||||
| Earnings as defined for fixed charges calculation |
67.0 | 10.7 | 175.9 | 25.3 | 87.0 | 89.1 | ||||||||||
| Fixed charges |
||||||||||||||||
| Interest expensed, excluding amortization of deferred debt issuance cost |
14.4 | 28.3 | 32.6 | 26.0 | 11.4 | 0.8 | ||||||||||
| Capitalized interest |
— | 1.3 | 0.3 | 0.2 | 0.4 | — | ||||||||||
| Estimate of interest within rental expense |
0.3 | 0.5 | 0.5 | 0.6 | 0.7 | 0.7 | ||||||||||
| Amortization of deferred debt issuance costs |
0.1 | 0.2 | 0.2 | 0.2 | 0.1 | — | ||||||||||
| Total fixed charges |
14.8 | 30.3 | 33.6 | 27.0 | 12.6 | 1.5 | ||||||||||
| Ratio of earnings to fixed charges |
4.53x | 0.35x | (1) | 5.24x | 0.94x | (2) | 6.91x | 59.37x | ||||||||
| (1) | The ratio calculation indicates a less than one-to-one coverage for the year ended December 31, 2009. Earnings available for fixed charges for the year ended December 31, 2009 were inadequate to cover total fixed charges and distributions to common unitholders. The deficient amount was $19.6 million. |
| (2) | The ratio calculation indicates a less than one-to-one coverage for the year ended December 31, 2007. Earnings available for fixed charges for the year ended December 31, 2007 were inadequate to cover total fixed charges and distributions to common unitholders. The deficient amount was $1.7 million. |