EXHIBIT 12

ONEOK, Inc.

Computation of Ratio of Earnings to Combined Fixed Charges

and Preferred Stock Dividend Requirements

	Years Ended December 31,
(Unaudited)	2004			2003			2002			2001			2000
	(Thousands of dollars)
Fixed Charges, as defined
Interest on long-term debt	$	94,516		$	93,335		$	87,933		$	109,229		$	90,027
Other interest		5,239			5,873			10,523			27,454			24,775
Amortization of debt discount and expense		3,713			4,977			7,949			3,475			3,828
Interest on lease agreements		21,638			21,323			22,831			21,564			6,311
Total Fixed Charges		125,106			125,508			129,236			161,722			124,941
Preferred dividend requirements		—			37,536			60,820			59,839			59,839
Total fixed charges and preferred dividend requirements	$	125,106		$	163,044		$	190,056		$	221,561		$	184,780
Earnings before income taxes and income from equity investees	$	389,744		$	343,330		$	258,095		$	108,218		$	220,324
Total fixed charges		125,106			125,508			129,236			161,722			124,941
Earnings available for combined fixed charges and preferred stock dividend requirements	$	514,850		$	468,838		$	387,331		$	269,940		$	345,265
Ratio of Earnings to combined fixed charges and preferred stock dividend requirements		4.12	x		2.88	x		2.04	x		1.22	x		1.87	x

For purposes of computing the ratio of earnings to combined fixed charges and preferred stock dividend requirements, “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. “Preferred dividend requirements” consists of the pre-tax preferred dividend requirement.