EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Crosstex Energy, L.P.
(amounts in thousands except ratios)
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Nine Months Ended |
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Year Ended December 31, |
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September 30, |
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2007 |
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2008 |
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2009 |
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2010 |
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2011 |
|
2012 |
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Earnings from continuing operations before non-controlling interest or tax |
|
$ |
(16,534 |
) |
$ |
(61,361 |
) |
$ |
(75,695 |
) |
$ |
(24,708 |
) |
$ |
(1,264 |
) |
$ |
(14,217 |
) |
|
Capitalized Interest |
|
(4,614 |
) |
(2,655 |
) |
(1,076 |
) |
(128 |
) |
(900 |
) |
(2,235 |
) | ||||||
|
Depreciation of capitalized interest |
|
262 |
|
69 |
|
66 |
|
745 |
|
790 |
|
676 |
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Non-controlling interest |
|
(160 |
) |
(311 |
) |
(60 |
) |
(19 |
) |
(48 |
) |
(163 |
) | ||||||
|
Earnings before fixed charges |
|
$ |
(21,045 |
) |
$ |
(64,259 |
) |
$ |
(76,765 |
) |
$ |
(24,111 |
) |
$ |
(1,422 |
) |
$ |
(15,939 |
) |
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Fixed Charges |
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Interest expense includes discontinued operations |
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$ |
79,403 |
|
$ |
102,675 |
|
$ |
125,903 |
|
$ |
87,035 |
|
$ |
79,233 |
|
$ |
63,932 |
|
|
Capitalized interest includes discontinued operations |
|
4,765 |
|
2,655 |
|
1,076 |
|
128 |
|
900 |
|
2,235 |
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Total Fixed Charges |
|
$ |
84,168 |
|
$ |
105,330 |
|
$ |
126,979 |
|
$ |
87,163 |
|
$ |
80,133 |
|
$ |
66,167 |
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Total Earnings & Fixed Charges |
|
$ |
63,123 |
|
$ |
41,072 |
|
$ |
50,214 |
|
$ |
63,053 |
|
$ |
78,711 |
|
$ |
50,228 |
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Ratio of earnings to fixed charges |
|
0.75 |
|
0.39 |
|
0.40 |
|
0.72 |
|
0.98 |
|
0.76 |
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Deficiency |
|
$ |
(21,045 |
) |
$ |
(64,259 |
) |
$ |
(76,765 |
) |
$ |
(24,111 |
) |
$ |
(1,422 |
) |
$ |
(15,939 |
) |