Exhibit 12.1
Cheniere Energy, Inc.
Computation of Ratio of Earnings to Fixed Charges
| Three Months Ended March 31, 2015 |
Year Ended December 31, | |||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
| Earnings: |
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| Pre-tax loss from continuing operations |
(267,031 | ) | (543,789 | ) | (503,582 | ) | (332,776 | ) | (198,596 | ) | (76,203 | ) | ||||||||||||
| Fixed charges |
182,536 | 593,393 | 415,899 | 240,216 | 263,303 | 265,579 | ||||||||||||||||||
| Amortization of capitalized interest |
1,437 | 5,718 | 5,703 | 5,703 | 5,700 | 5,699 | ||||||||||||||||||
| Interest capitalized |
(121,026 | ) | (405,800 | ) | (232,949 | ) | (35,124 | ) | (274 | ) | 5 | |||||||||||||
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| Total earnings (loss) available for fixed charges |
(204,084 | ) | $ | (350,478 | ) | $ | (314,929 | ) | $ | (121,981 | ) | $ | 70,133 | $ | 195,080 | |||||||||
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| Fixed Charges |
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| Interest expense on indebtedness |
59,612 | 181,236 | 178,400 | 200,811 | 259,393 | 262,046 | ||||||||||||||||||
| Interest capitalized |
121,026 | 405,800 | 232,949 | 35,124 | 274 | (5 | ) | |||||||||||||||||
| Interest expense on portion of rent |
1,898 | 6,357 | 4,550 | 4,281 | 3,636 | 3,538 | ||||||||||||||||||
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| Total fixed charges |
182,536 | $ | 593,393 | $ | 415,899 | $ | 240,216 | $ | 263,303 | $ | 265,579 | |||||||||||||
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| Ratio of earnings to fixed charges (1) |
— | — | — | — | — | — | ||||||||||||||||||
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| (1) | Earnings means pre-tax income from continuing operations before fixed charges and amortization of capitalized interest less capitalized interest. Fixed charges means the sum of interest expensed and capitalized plus the portion of rental expense which we believe represents an interest factor. For the three months ended March 31, 2015 and for the years ended December 31, 2014, 2013, 2012, 2011 and 2010, earnings were not adequate to cover fixed charges by $386.6 million, $943.9 million, $730.8 million, $362.2 million, $193.2 million and $70.5 million, respectively. |