EX-12 2 mlp-2014331_exhibit12.htm EXHIBIT 12 MLP-2014/3/31_Exhibit 12


Exhibit 12



PHILLIPS 66 PARTNERS LP

Computation of Ratio of Earnings to Fixed Charges

 
Millions of Dollars
 
March 31

 
Year Ended December 31
 
2014

 
2013*

 
2012*

 
2011*

Earnings Available for Fixed Charges
 
 
 
 
 
 
 
Income before income tax
$
28.3

 
100.2

 
61.4

 
63.5

Fixed charges
0.5

 
0.3

 
—

 
—

 
$
28.8

 
100.5

 
61.4

 
63.5

 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
Interest and expense on indebtedness
$
0.5

 
0.3

 
—

 
—

 
$
0.5

 
0.3

 
—

 
—

Ratio of Earnings to Fixed Charges
57.6

 
335.0

 
N/A

 
N/A

* Prior-period financial information has been retrospectively adjusted for the Gold Line/Medford Acquisition.