Exhibit 99.2
ENERGY TRANSFER EQUITY, L.P.
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 | $ | 1,803 | $ | 1,621 | $ | 1,368 | $ | 1,221 | $ | 1,018 | |||||||||
Capitalized interest | 200 | 163 | 101 | 45 | 101 | ||||||||||||||
Interest expense included in rental expense | 14 | 22 | 10 | 16 | 6 | ||||||||||||||
Distribution to the Series A Convertible Redeemable Preferred Units | — | 3 | 3 | 6 | — | ||||||||||||||
Accretion of the Series A Convertible Redeemable Preferred Units | — | — | — | — | 1 | ||||||||||||||
Total fixed charges | 2,017 | 1,809 | 1,482 | 1,288 | 1,126 | ||||||||||||||
Earnings: | |||||||||||||||||||
Income from continuing operations before income taxes | 272 | 864 | 1,319 | 375 | 1,437 | ||||||||||||||
Less: equity in earnings of affiliates | (39 | ) | 276 | 332 | 236 | 212 | |||||||||||||
Total earnings | 311 | 588 | 987 | 139 | 1,225 | ||||||||||||||
Add: | |||||||||||||||||||
Fixed charges | 2,017 | 1,809 | 1,482 | 1,288 | 1,126 | ||||||||||||||
Amortization of capitalized interest | 17 | 11 | 8 | 7 | 5 | ||||||||||||||
Distributed income of equity investees | 268 | 409 | 291 | 236 | 208 | ||||||||||||||
Less: | |||||||||||||||||||
Interest capitalized | (200 | ) | (163 | ) | (101 | ) | (45 | ) | (101 | ) | |||||||||
Income available for fixed charges | $ | 2,413 | $ | 2,654 | $ | 2,667 | $ | 1,625 | $ | 2,463 | |||||||||
Ratio of earnings to fixed charges | 1.20 | 1.47 | 1.80 | 1.26 | 2.19 |