EX-12 3 mlp-20141231_10xkxexhibit12.htm EXHIBIT 12 MLP-2014/12/31_10-K_Exhibit 12


Exhibit 12



PHILLIPS 66 PARTNERS LP

Computation of Ratio of Earnings to Fixed Charges

 
Millions of Dollars
 
Year Ended December 31
 
2014

 
2013*

 
2012*

 
2011*

Earnings Available for Fixed Charges
 
 
 
 
 
 
 
Income before income tax
$
125.2

 
97.2

 
59.4

 
63.5

Fixed charges
5.3

 
0.3

 
—

 
—

 
$
130.5

 
97.5

 
59.4

 
63.5

 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
Interest and expense on indebtedness
$
5.3

 
0.3

 
—

 
—

 
$
5.3

 
0.3

 
—

 
—

Ratio of Earnings to Fixed Charges
24.6

 
325.0

 
N/A

 
N/A

*Prior-period financial information has been retrospectively adjusted for the acquisition of the Bayway and Ferndale rail racks.