EX-12.1 4 exhibit_12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exhibit_12.htm
KINDER MORGAN ENERGY PARTNERS, L.P. AND SUBSIDIARIES
EXHIBIT 12 – STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars In Millions Except Ratio Amounts)

   
Three Months Ended
    
Three Months Ended
  
 
  
March 31, 2011
    
March 31, 2010
  
Earnings:
Pre-tax income from continuing operations before adjustment for net income attributable to the noncontrolling interest and equity earnings (including amortization of excess cost of equity investments) per statements of income
   $  284.0     $  183.1  
Add:
                
Fixed charges
     140.8       126.1  
Amortization of capitalized interest
     1.0       1.0  
Distributed income of equity investees
     64.8       49.8  
Less:
                
Interest capitalized from continuing operations
     (3.3 )     (4.1 )
Noncontrolling interest in pre-tax income of subsidiaries with no fixed charges
     (0.2 )     (0.1 )
Income as adjusted
   $ 487.1     $ 355.8  
                 
                 
Fixed charges:
Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs; excludes capitalized interest)
   $  135.3     $  121.1  
Add:
                
Portion of rents representative of the interest factor
     5.5       5.0  
Fixed charges
   $ 140.8     $ 126.1  
                 
 
                
Ratio of earnings to fixed charges
     3.46       2.82