EX-99.2 4 etp12-31x2016xex992.htm EXHIBIT 99.2 Exhibit


Exhibit 99.2
ENERGY TRANSFER PARTNERS, L.P. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except for ratio amounts)
(Unaudited)
 
Years Ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense, net
$
1,317

 
$
1,291

 
$
1,165

 
$
1,013

 
$
788

Capitalized interest
200

 
163

 
101

 
45

 
101

Interest charges included in rental expense
9

 
19

 
17

 
16

 
6

Distribution to the Series A Convertible Redeemable Preferred Units
—

 
3

 
3

 
6

 
8

Accretion of the Series A Convertible Redeemable Preferred Units
—

 
—

 
—

 
—

 
1

Total fixed charges
1,526

 
1,476

 
1,286

 
1,080

 
904

Earnings:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income tax expense and noncontrolling interest
438

 
1,398

 
1,593

 
810

 
1,817

Less: equity in earnings of unconsolidated affiliates
59

 
469

 
332

 
236

 
212

Total earnings
379

 
929

 
1,261

 
574

 
1,605

Add:
 
 
 
 
 
 
 
 
 
Fixed charges
1,526

 
1,476

 
1,286

 
1,080

 
904

Amortization of capitalized interest
18

 
11

 
8

 
6

 
5

Distributed income of equity investees
406

 
440

 
291

 
313

 
208

Less:
 
 
 
 
 
 
 
 
 
Interest capitalized
(200
)
 
(163
)
 
(101
)
 
(45
)
 
(101
)
Income available for fixed charges
$
2,129

 
$
2,693

 
$
2,745

 
$
1,928

 
$
2,621

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.40

 
1.82

 
2.13

 
1.79

 
2.90