EX-12 3 km-ex12to10q_may2009.htm EXHIBIT 12

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
March 31, 2009

 

Three Months Ended
March 31, 2008

 

 

 

  

 

  

 

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

 

$

253.5

 

$

325.6

 

Add:

 

 

 

 

 

 

 

Fixed charges

 

 

119.8

 

 

113.5

 

Amortization of capitalized interest

 

 

0.8

 

 

1.0

 

Distributed income of equity investees

 

 

56.5

 

 

112.8

 

Less:

 

 

 

 

 

 

 

Interest capitalized from continuing operations

 

 

(10.7

)

 

(10.7

)

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

 

 

(0.1

)

 

(0.1

)

 

 

    

 

    

 

Income as adjusted

 

$

419.8

 

$

542.1

 

 

 

    

 

    

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

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

 

$

115.4

 

$

108.7

 

Add:

 

 

 

 

 

 

 

Portion of rents representative of the interest factor

 

 

4.4

 

 

4.8

 

 

 

    

 

    

 

Fixed charges

 

$

119.8

 

$

113.5

 

 

 

    

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

3.50

 

 

4.78