EX-12 3 d74665_ex-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)

 

 

 

 

 

 

 

 

 

 

Six Months Ended
June 30, 2008

 

Six Months Ended
June 30, 2007

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

   Pre-tax income from continuing operations before adjustment for minority interest and equity earnings (including amortization of excess cost of equity investments) per statements of income

 

$

656.3

 

$

55.6

 

Add:

 

 

 

 

 

 

 

Fixed charges

 

 

226.5

 

 

211.2

 

Amortization of capitalized interest

 

 

1.0

 

 

1.0

 

Distributed income of equity investees

 

 

63.9

 

 

66.6

 

Less:

 

 

 

 

 

 

 

Interest capitalized from continuing operations

 

 

(18.6

)

 

(12.6

)

Minority interest in pre-tax income of subsidiaries with no fixed charges

 

 

(0.2

)

 

(0.3

)

 

 

 

 

Income as adjusted

 

$

928.9

 

$

321.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

    Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs; excludes capitalized interest)

 

$

216.6

 

$

203.1

 

Add:

 

 

 

 

 

 

 

Portion of rents representative of the interest factor

 

 

9.9

 

 

8.1

 

 

 

 

 

Fixed charges

 

$

226.5

 

$

211.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

4.10

 

 

1.52