Kinder Morgan Marine Services POSASR Automatic shelf registration (post-effective amendment)

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EXHIBIT 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions except ratio amounts)

	Six Months Ended June 30,			Year Ended December 31,
	2017			2016			2015			2014			2013			2012
Earnings:
Pre-tax income before adjustment for net income attributable to noncontrolling interests and earnings from equity investments (including amortization of excess cost of equity investments) statements of income per statement of income	$	1,010			1,200			439			2,730			3,150			1,213
Add:
Fixed charges		982			1,977			2,174			1,921			1,785			1,486
Amortization of capitalized interest		6			13			9			5			6			5
Distributed income of equity investees		208			431			391			381			398			311
Less:
Interest capitalized from continuing operations		(26	)		(77	)		(71	)		(75	)		(52	)		(27	)
Noncontrolling interest in pre-tax income of subsidiaries with no fixed charges		(9	)		(11	)		(4	)		(377	)		(390	)		17
Income as adjusted	$	2,171			3,533			2,938			4,585			4,897			3,005
Fixed charges:
Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs);also excludes gain on early extinguishment of debt and includes capitalized interest	$	958			1,931			2,126			1,882			1,742			1,454
Add:
Portion of rents representative of the interest factor		24			46			48			39			43			32
Fixed charges	$	982			1,977			2,174			1,921			1,785			1,486
​	​	​	​	��	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Ratio of earnings to fixed charges		2.21			1.79			1.35			2.39			2.74			2.02

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EXHIBIT 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in millions except ratio amounts)