Exhibit 12
Williams Partners L.P.
Computation of Ratio of Earnings to Fixed Charges
Years Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
(Millions) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 1,149 | $ | 1,333 | $ | 1,650 | $ | 1,264 | $ | 1,067 | ||||||||||
Less: Equity earnings (1) | (104 | ) | (111 | ) | (142 | ) | (109 | ) | (81 | ) | ||||||||||
Income before income taxes and equity earnings | 1,045 | 1,222 | 1,508 | 1,155 | 986 | |||||||||||||||
Add: | ||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest incurred (1) | 477 | 458 | 439 | 399 | 262 | |||||||||||||||
Rental expense representative of interest factor | 10 | 8 | 7 | 7 | 9 | |||||||||||||||
Total fixed charges | 487 | 466 | 446 | 406 | 271 | |||||||||||||||
Distributed income of equity method investees (1) | 152 | 160 | 167 | 133 | 78 | |||||||||||||||
Less: | ||||||||||||||||||||
Interest capitalized | (90 | ) | (54 | ) | (24 | ) | (35 | ) | (60 | ) | ||||||||||
Total earnings as adjusted | $ | 1,594 | $ | 1,794 | $ | 2,097 | $ | 1,659 | $ | 1,275 | ||||||||||
Fixed charges | $ | 487 | $ | 466 | $ | 446 | $ | 406 | $ | 271 | ||||||||||
Ratio of earnings to fixed charges | 3.27 | 3.85 | 4.70 | 4.09 | 4.70 |
(1) | Prior years have been recast to include the effect of 50%-owned companies. |