EX-12.1 2 dex121.htm RATIOS OF EARNINGS TO FIXED CHARGES Ratios of Earnings to Fixed Charges

EXHIBIT 12.1

SPECTRA ENERGY PARTNERS, LP

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.

 

     Year Ended December 31,
     2008    2007    2006    2005    2004
     (dollars in millions)

Earnings as defined for fixed charges calculation

               

Add:

               

Pretax income from continuing operations

    $ 38.5    $ 49.4    $ 42.3    $ 21.4    $ 28.1

Fixed charges

      18.6      17.7      9.0      9.1      8.9

Distributed income of equity investees

      71.7      22.7      20.3      181.8      13.7

Deduct:

               

Interest capitalized

      0.2      0.1      0.9      0.8      0.5
                                  

Total earnings (as defined for the Fixed Charges calculation)

    $ 128.6    $ 89.7    $ 70.7    $ 211.5    $ 50.2
                                  

Fixed charges:

               

Interest on debt, including capitalized portions

    $ 18.0    $ 17.1    $ 8.6    $ 8.7    $ 8.7

Estimate of interest within rental expense

      0.6      0.6      0.4      0.4      0.2
                                  

Total fixed charges

    $ 18.6    $ 17.7    $ 9.0    $ 9.1    $ 8.9
                                  

Ratio of earnings to fixed charges

      6.9      5.1      7.9      23.2      5.6