EX-12.1 3 kmi-09302015ex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
KINDER MORGAN, INC. AND SUBSIDIARIES
EXHIBIT 12.1 - STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratio amounts)

 
Nine Months Ended September 30,
 
2015
 
2014
Earnings:
 
 
 
Pre-tax income before adjustment for net income attributable to the noncontrolling interests and earnings from equity investments (including loss on impairments of equity investments and amortization of excess cost of equity investments) per statements of income
$
1,200

 
$
2,228

Add:
 
 
 
Fixed charges
1,609

 
1,415

Amortization of capitalized interest
7

 
4

Distributions from equity investment earnings
289

 
294

Less:
 
 
 
Interest capitalized
(50
)
 
(57
)
Noncontrolling interest in pre-tax income of subsidiaries with no fixed charges
—

 
(247
)
Income as adjusted
$
3,055

 
$
3,637

 
 
 
 
Fixed charges:
 
 
 
Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs; excludes capitalized interest)
$
1,574

 
$
1,384

Add:
 
 
 
Portion of rents representative of the interest factor
35

 
31

Fixed charges
$
1,609

 
$
1,415

 
 
 
 
Ratio of earnings to fixed charges
1.90

 
2.57