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Exhibit 12
PHILLIPS 66 PARTNERS LP
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||||||
Year Ended December 31 | ||||||||||||
2014 | 2013* | 2012* | 2011* | |||||||||
Earnings Available for Fixed Charges | ||||||||||||
Income before income tax | $ | 125.2 | 97.2 | 59.4 | 63.5 | |||||||
Fixed charges | 5.3 | 0.3 | — | — | ||||||||
$ | 130.5 | 97.5 | 59.4 | 63.5 | ||||||||
Fixed Charges | ||||||||||||
Interest and expense on indebtedness | $ | 5.3 | 0.3 | — | — | |||||||
$ | 5.3 | 0.3 | — | — | ||||||||
Ratio of Earnings to Fixed Charges | 24.6 | 325.0 | N/A | N/A |
*Prior-period financial information has been retrospectively adjusted for the acquisition of the Bayway and Ferndale rail racks.