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)

   
Nine Months Ended
    
Nine Months Ended
  
 
  
September 30, 2011
    
September 30, 2010
  
Earnings:
Pre-tax income from continuing operations before adjustment for noncontrolling interests and equity earnings (including amortization of excess cost of equity investments) per statements of income
   $  613.9     $  791.2  
Add:
                
Fixed charges
     447.3       400.9  
Amortization of capitalized interest
     3.2       3.0  
Distributed income of equity investees
     200.9       154.9  
Less:
                
Interest capitalized from continuing operations
     (9.7 )     (9.8 )
Noncontrolling interests in pre-tax income of subsidiaries
with no fixed charges
     (0.4 )     (0.2 )
Income as adjusted
   $ 1,255.2     $ 1,340.0  
                 
                 
Fixed charges:
Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs; excludes capitalized interest)
   $  405.3     $  384.8  
Add:
                
Portion of rents representative of the interest factor
     42.0       16.1  
Fixed charges
   $ 447.3     $ 400.9  
                 
                 
Ratio of earnings to fixed charges
     2.81       3.34