Kinder Morgan Energy Partners L P 10-Q 2008 Q1 Quarterly report

KINDER MORGAN ENERGY PARTNERS, L.P. AND SUBSIDIARIES

EXHIBIT 12 – STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars In Millions Except Ratio Amounts)

	Three Months Ended			Three Months Ended
	March 31, 2008			March 31, 2007
Earnings:
Pre-tax income (loss) from continuing operations
before adjustment for minority interest and equity
earnings (including amortization of excess cost of
equity investments) per statements of income	$	325.6		$	(165.7	)
Add:
Fixed charges		113.5			102.3
Amortization of capitalized interest		1.0			—
Distributed income of equity investees		112.8			43.7
Less:
Interest capitalized from continuing operations		(10.7	)		(5.9	)
Minority interest in pre-tax income of subsidiaries
with no fixed charges		(0.1	)		(0.1	)
Income (Loss) as adjusted	$	542.1		$	(25.7	)
Fixed charges:
Interest and debt expense, net per statements of
income (includes amortization of debt discount,
premium, and debt issuance costs; excludes
capitalized interest)	$	108.7		$	98.0
Add:
Portion of rents representative of the interest factor		4.8			4.3
Fixed charges	$	113.5		$	102.3
Ratio of earnings to fixed charges		4.78			(0.25	)