EX-12.1A 7 dex121a.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1 (a)

 

ONEOK, Inc.

Computation of Ratio of Earnings to Fixed Charges

 

    

Years Ended

December 31,


 

(Unaudited)


   2003

    2002

    2001

 
     (Thousands of Dollars)  

Fixed Charges, as defined

                        

Interest on long-term debt

   $ 93,335     $ 87,933     $ 109,229  

Other interest

     5,873       10,523       27,454  

Amortization of debt discount and expense

     4,977       7,949       3,475  

Interest on lease agreements

     9,488       8,878       5,698  
    


 


 


Total Fixed Charges

     113,673       115,283       145,856  
    


 


 


Earnings before income taxes and undistributed income from equity investees

     343,272       258,095       108,218  
    


 


 


Earnings available for fixed charges

   $ 456,945     $ 373,378     $ 254,074  
    


 


 


Ratio of earnings to fixed charges

     4.02 x     3.24 x     1.74 x
    


 


 


 

For purposes of computing the ratio of earnings to fixed charges, “earnings” consists of income before cumulative effect of a change in accounting principle plus fixed charges and income taxes, less undistributed income for equity investees. “Fixed charges” consists of interest charges, the amortization of debt discounts and issue costs and the representative interest portion of operating leases.