Exhibit 12.1

ONEOK, Inc.

Computation of Ratio of Earnings to Fixed Charges

	Three Months Ended March 31,		Years Ended December 31,
(Unaudited)	2017		2016		2015		2014		2013		2012
	(Thousands of dollars)
Fixed charges, as defined
Interest on long-term debt	$	104,109	$	438,915	$	432,234	$	380,441	$	374,520	$	326,206
Other interest		11,584		32,385		13,330		4,127		10,397		12,045
Amortization of debt discount, premium and expense		2,210		8,943		7,795		6,652		7,064		5,830
Interest on lease agreements		280		1,150		962		275		1,494		539
Total fixed charges		118,183		481,393		454,321		391,495		393,475		344,620
Earnings before income taxes and undistributed income of equity method investees		245,096		958,659		670,762		854,181		709,825		823,710
Earnings available for fixed charges	$	363,279	$	1,440,052	$	1,125,083	$	1,245,676	$	1,103,300		1,168,330
Ratio of earnings to fixed charges		3.07x		2.99x		2.48x		3.18x		2.80x		3.39x

For purposes of computing the ratio of earnings to fixed charges, “earnings” consists of pretax income from continuing operations before adjustment for income or loss from equity investees plus fixed charges and distributed income of equity investees, less interest capitalized. “Fixed charges” consists of interest charges, the amortization of debt discounts and issue costs and the representative interest portion of operating leases.