Exhibit 12.1
Earnings to Fixed Charges
(Amounts in thousands of dollars) | Targa Resources, Inc. | Predecessor | |||||||||||||||||||||||||||
Six Months Ended June 30, 2007 | Six Months Ended June 30, 2006 | Year Ended December 31, 2006 | Year Ended December 31, 2005 | Year Ended December 31, 2004 | 106-Day Period Ended April 15, 2004 | Year Ended December 31, 2003 | Year Ended December 31, 2002 | ||||||||||||||||||||||
Income (loss) before taxes | $ | 26,236 | $ | 66,836 | $ | 39,623 | $ | (20,752 | ) | $ | 16,389 | $ | 15,603 | $ | 19,295 | $ | 19,295 | ||||||||||||
Equity in (earnings) losses of unconsolidated investments | (5,647 | ) | (3,968 | ) | (9,968 | ) | 3,776 | (2,370 | ) | — | — | — | |||||||||||||||||
Minority interest of subsidiaries that have incurred fixed charges | 4,048 | — | — | — | — | ||||||||||||||||||||||||
Fixed charges | 80,512 | 90,423 | 184,588 | 40,525 | 6,506 | — | — | — | |||||||||||||||||||||
Distributed income of equity investees | 2,325 | 2,034 | 2,306 | 387 | — | — | — | — | |||||||||||||||||||||
Capitalized interest | (542 | ) | (128 | ) | (466 | ) | (35 | ) | — | — | — | — | |||||||||||||||||
Amortization of capitalized interest | 16 | 14 | 27 | 1 | — | — | — | — | |||||||||||||||||||||
$ | 106,948 | $ | 155,211 | $ | 216,110 | $ | 23,902 | $ | 20,525 | $ | 15,603 | $ | 19,295 | $ | 19,295 | ||||||||||||||
Fixed charges: | |||||||||||||||||||||||||||||
Interest expense | $ | 78,003 | $ | 88,328 | $ | 180,189 | $ | 39,856 | $ | 6,406 | $ | — | $ | — | $ | — | |||||||||||||
Capitalized interest | 542 | 128 | 466 | 35 | — | — | — | — | |||||||||||||||||||||
Interest within rental expenses | 1,967 | 1,967 | 3,933 | 634 | 100 | — | — | — | |||||||||||||||||||||
$ | 80,512 | $ | 90,423 | $ | 184,588 | $ | 40,525 | $ | 6,506 | $ | — | $ | — | $ | — | ||||||||||||||
Ratio of earnings to fixed charges (1) | 1.3x | 1.7x | 1.2x | 0.6x | 3.2x | N/A | N/A | N/A | |||||||||||||||||||||
(1) Not applicable to the predecessor because the predecessor has not historically incurred debt obligations.