Exhibit 99.2
ENERGY TRANSFER PARTNERS, L.P. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except for ratio amounts)
(Unaudited)
Years Ended December 31, | |||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
Fixed Charges: | |||||||||||||||||||
Interest expense, net | $ | 1,317 | $ | 1,291 | $ | 1,165 | $ | 1,013 | $ | 788 | |||||||||
Capitalized interest | 200 | 163 | 101 | 45 | 101 | ||||||||||||||
Interest charges included in rental expense | 9 | 19 | 17 | 16 | 6 | ||||||||||||||
Distribution to the Series A Convertible Redeemable Preferred Units | — | 3 | 3 | 6 | 8 | ||||||||||||||
Accretion of the Series A Convertible Redeemable Preferred Units | — | — | — | — | 1 | ||||||||||||||
Total fixed charges | 1,526 | 1,476 | 1,286 | 1,080 | 904 | ||||||||||||||
Earnings: | |||||||||||||||||||
Income from continuing operations before income tax expense and noncontrolling interest | 438 | 1,398 | 1,593 | 810 | 1,817 | ||||||||||||||
Less: equity in earnings of unconsolidated affiliates | 59 | 469 | 332 | 236 | 212 | ||||||||||||||
Total earnings | 379 | 929 | 1,261 | 574 | 1,605 | ||||||||||||||
Add: | |||||||||||||||||||
Fixed charges | 1,526 | 1,476 | 1,286 | 1,080 | 904 | ||||||||||||||
Amortization of capitalized interest | 18 | 11 | 8 | 6 | 5 | ||||||||||||||
Distributed income of equity investees | 406 | 440 | 291 | 313 | 208 | ||||||||||||||
Less: | |||||||||||||||||||
Interest capitalized | (200 | ) | (163 | ) | (101 | ) | (45 | ) | (101 | ) | |||||||||
Income available for fixed charges | $ | 2,129 | $ | 2,693 | $ | 2,745 | $ | 1,928 | $ | 2,621 | |||||||||
Ratio of earnings to fixed charges | 1.40 | 1.82 | 2.13 | 1.79 | 2.90 |