Exhibit 12
Williams Partners L.P.
Computation of Ratio of Earnings to Fixed Charges
Years Ended December 31, | ||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
(Millions) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Income (loss) before income taxes | $ | (1,357 | ) | $ | 1,313 | $ | 1,149 | $ | 1,333 | $ | 1,650 | |||||||||
Less: Equity earnings | (335 | ) | (228 | ) | (104 | ) | (111 | ) | (142 | ) | ||||||||||
Income (loss) before income taxes and equity earnings | (1,692 | ) | 1,085 | 1,045 | 1,222 | 1,508 | ||||||||||||||
Add: | ||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest incurred | 864 | 683 | 477 | 458 | 439 | |||||||||||||||
Rental expense representative of interest factor | 22 | 16 | 10 | 8 | 7 | |||||||||||||||
Total fixed charges | 886 | 699 | 487 | 466 | 446 | |||||||||||||||
Distributed income of equity-method investees | 617 | 344 | 152 | 160 | 167 | |||||||||||||||
Less: | ||||||||||||||||||||
Interest capitalized | (53 | ) | (121 | ) | (90 | ) | (54 | ) | (24 | ) | ||||||||||
Total earnings as adjusted | $ | (242 | ) | $ | 2,007 | $ | 1,594 | $ | 1,794 | $ | 2,097 | |||||||||
Fixed charges | $ | 886 | $ | 699 | $ | 487 | $ | 466 | $ | 446 | ||||||||||
Ratio of earnings to fixed charges | * | 2.87 | 3.27 | 3.85 | 4.70 |
_________
* Earnings are inadequate to cover fixed charges by $1,128 million for 2015.