"The kids' best interest is what we all have in mind – there's nothing else," Barker, 40, tells WHO of their reconciliation. "Our relationship was so long ago. We're just being friends. Doing the best coparenting is the most important thing."
As for the now-congenial exes' secret to successful coparenting?
"I bought a home that's very close to my children's school, so when she's with the kids, she's there; when I'm with the kids, I'm there," Barker explains of their house outside L.A. "There's no making them travel back and forth to different houses."
Barker and one-time Miss USA contestant Moakler, 41, married in 2004, and their lives were documented on MTV reality series Meet the Barkers, but their relationship began to go downhill shortly after, and Barker filed for divorce in 2006. While they rekindled their relationship for a time in 2008 after the rocker survived a fatal plane crash, they officially called it quits, finalizing their divorce later that year.
While Barker briefly dated Rita Ora last year, he says he's not focusing on romance.
"Never say never. My daughter always begs me for a baby sister or something, but it's honestly about finding the right person," says Barker, who's on tour with Blink-182 promoting California.
"I'm so content with my music and cars and my companies and my kids and touring, and I can't even imagine being the greatest boyfriend all the time," he adds. "If I met someone, of course I'm not against it. But the best role I have in life is being a father."
For more on Travis Barker and his life now, see this week's issue of WHO.