EX-12 3 mlp-2015930_exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


PHILLIPS 66 PARTNERS LP

Computation of Ratio of Earnings to Fixed Charges

 
Millions of Dollars
 
Nine Months Ended

 
 
 
September 30

 
Years Ended December 31
 
2015

 
2014

 
2013

 
2012

 
2011

Earnings Available for Fixed Charges
 
 
 
 
 
 
 
 
 
Income before income tax
$
129.9

 
125.2

 
97.2

 
59.4

 
63.5

Undistributed equity earnings
(2.7
)
 
—

 
—

 
—

 
—

Fixed charges, excluding capitalized interest
25.1

 
5.3

 
0.3

 
—

 
—

 
$
152.3

 
130.5

 
97.5

 
59.4

 
63.5

 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
Interest and expense on indebtedness, excluding capitalized interest
$
24.6

 
5.3

 
0.3

 
—

 
—

Capitalized interest
2.9

 
—

 
—

 
—

 
—

Interest portion of rental expense
0.5

 
—

 
—

 
—

 
—

 
$
28.0

 
5.3

 
0.3

 
—

 
—

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
5.4

 
24.6

 
325.0

 
N/A

 
N/A