EX-12.1 5 a06-26034_1ex12d1.htm EX-12.1

EXHIBIT 12.1

 

Enbridge Energy Partners, L.P.
Computation of Ratio of Earnings to Fixed Charges

 

 

 

Nine Months
Ended
September 30,

 

Year Ended December 31,

 

 

 

2006

 

2005

 

2004

 

2003

 

2002

 

2001

 

 

 

(dollars in millions)

 

Income from continuing operations before provision for income taxes and minority interest

 

$

233.7

 

$

89.2

 

$

138.2

 

$

111.7

 

$

78.6

 

$

39.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add: Fixed Charges

 

90.2

 

113.3

 

91.3

 

87.3

 

67.7

 

35.4

 

Less: Interest capitalized

 

5.7

 

4.0

 

2.1

 

2.2

 

8.1

 

0.3

 

Total earnings as adjusted

 

$

318.2

 

$

198.5

 

$

227.4

 

$

196.8

 

$

138.2

 

$

74.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense - net

 

$

75.0

 

$

95.6

 

$

77.1

 

$

64.9

 

$

50.4

 

$

32.5

 

Interest expense - affiliate

 

7.2

 

9.7

 

9.1

 

18.1

 

7.5

 

1.3

 

Estimated interest portion of rental expense

 

2.3

 

4.0

 

3.0

 

2.2

 

1.7

 

1.3

 

Interest capitalized

 

5.7

 

4.0

 

2.1

 

2.2

 

8.1

 

0.3

 

Fixed Charges

 

$

90.2

 

$

113.3

 

$

91.3

 

$

87.4

 

$

67.7

 

$

35.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.53

x

1.75

x

2.49

x

2.25

x

2.04

x

2.10

x