EX-12.1 6 h23121exv12w1.txt STATEMENT RE COMPUTATION OF RATIOS . . . Exhibit 12.1 Northern Border Partners, L.P. Ratio of earnings to fixed charges
Year ended December 31, ---------------------------------------------- 2000 2001 2002 2003 2004 ------- ------- ------- ------- ------- Fixed charges: Interest expensed and capitalized 81,881 91,653 83,227 79,159 77,346 Estimate of interest within rental expense 864 1,091 1,112 1,210 1,192 ------- ------- ------- ------- ------- Total fixed charges 82,745 92,744 84,339 80,369 78,538 ------- ------- ------- ------- ------- Earnings: Pretax income from continuing operations 77,098 88,332 112,625 (92,444) 146,057 Minority interest in net income 38,119 42,138 42,816 44,460 50,033 Equity (earnings) losses from equity investees 647 (1,697) (12,983) (18,815) (18,015) Distributed income of equity investees 933 7,083 10,820 16,262 13,946 Interest capitalized (58) (834) (304) (117) (366) Fixed charges 82,745 92,744 84,339 80,369 78,538 ------- ------- ------- ------- ------- Total earnings 199,484 227,766 237,313 29,715 270,193 ------- ------- ------- ------- ------- Ratio of earnings to fixed charges 2.41 2.46 2.81 0.37 3.44 ======= ======= ======= ======= =======