EX-12 2 h81647a1ex12.txt CALCULATION OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 KINDER MORGAN ENERGY PARTNERS, L.P. CALCULATION OF EARNINGS TO FIXED CHARGES IN THOUSANDS
YEAR ENDED DECEMBER 31 ----------------------------------------------- 2000 1999 1998 1997 1996 ------- ------- ------- ------ ------ EARNINGS: Net income from continuing operations before minority interest and income from equity investments 236,861 158,950 94,806 11,452 7,689 Fixed charges 100,120 56,747 42,728 12,710 12,634 Amortization of capitalized interest 131 76 34 1 -- Distributed income of equity investees 47,512 33,686 19,670 9,588 6,791 Less interest capitalized (2,506) (1,887) (1,500) (27) -- ------- ------- ------- ------ ------ TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES 382,118 247,572 155,738 33,724 27,114 ======= ======= ======= ====== ====== FIXED CHARGES: Interest expensed and capitalized 99,608 56,223 42,356 12,632 12,634 Estimated interest within rental expenses 512 524 372 78 -- ------- ------- ------- ------ ------ TOTAL FIXED CHARGES 100,120 56,747 42,728 12,710 12,634 ======= ======= ======= ====== ====== Earnings in excess of fixed charges 281,998 190,825 113,010 21,014 14,480 Ratio of earnings to fixed charges 3.82 4.36 3.64 2.65 2.15