EL Paso Pipeline Partners (EPB) 10-Q 2012 Q3 Quarterly report

			Exhibit 12
EL PASO PIPELINE PARTNERS, L.P.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
	Nine Months Ended September 30,
	2012		2011
	(In millions, except for ratio)
Earnings
Income before income taxes	411		460
Income from equity investees	(11	)	(12	)
Income before income taxes before adjustment for income from equity investees	400		448
Fixed charges	221		198
Distributed income of equity investees	10		10
Allowance for funds used during construction	(1	)	(2	)
Total earnings available for fixed charges	630		654
Fixed charges
Interest and debt expense	219		196
Interest component of rent	2		2
Total fixed charges	221		198
Ratio of earnings to fixed charges	2.9		3.3

For purposes of computing these ratios, earnings means income before income taxes before:

• income from equity investees, adjusted to reflect actual distributions from equity investments; and

• fixed charges;

less

• allowance for funds used during construction

Fixed charges means the sum of the following:

• interest costs;

• amortization of debt costs; and

• that portion of rental expense which we believe represents an interest factor.