EX-12.1 3 kmi-2016x10kxexh121.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)
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings:
 
 
 
 
 
 
 
 
 
Pre-tax income before adjustment for net income attributable to noncontrolling interests and earnings from equity investments (including amortization of excess cost of equity investments) per statements of income
$
1,200

 
$
439

 
$
2,730

 
$
3,150

 
$
1,213

Add:
 
 
 
 
 
 
 
 
 
Fixed charges
1,977

 
2,174

 
1,921

 
1,785

 
1,486

Amortization of capitalized interest
13

 
9

 
5

 
6

 
5

Distributed income of equity investees
431

 
391

 
381

 
398

 
311

Less:
 
 
 
 
 
 
 
 
 
Interest capitalized from continuing operations
(77
)
 
(71
)
 
(75
)
 
(52
)
 
(27
)
Noncontrolling interest in pre-tax income of subsidiaries with no fixed charges
(11
)
 
(4
)
 
(377
)
 
(390
)
 
17

Income as adjusted
$
3,533

 
$
2,938

 
$
4,585

 
$
4,897

 
$
3,005

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs); also excludes gain on early extinguishment of debt and includes capitalized interest
$
1,931

 
$
2,126

 
$
1,882

 
$
1,742

 
$
1,454

Add:
 
 
 
 
 
 
 
 
 
Portion of rents representative of the interest factor
46

 
48

 
39

 
43

 
32

Fixed charges
$
1,977

 
$
2,174

 
$
1,921

 
$
1,785

 
$
1,486

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.79

 
1.35

 
2.39

 
2.74

 
2.02