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)
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| Six Months Ended |
| Six Months Ended |
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Earnings: |
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Pre-tax income from continuing operations before adjustment for minority interest and equity earnings (including amortization of excess cost of equity investments) per statements of income |
| $ | 656.3 |
| $ | 55.6 |
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Add: |
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Fixed charges |
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| 226.5 |
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| 211.2 |
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Amortization of capitalized interest |
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| 1.0 |
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| 1.0 |
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Distributed income of equity investees |
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| 63.9 |
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| 66.6 |
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Less: |
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Interest capitalized from continuing operations |
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| (18.6 | ) |
| (12.6 | ) |
Minority interest in pre-tax income of subsidiaries with no fixed charges |
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| (0.2 | ) |
| (0.3 | ) |
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Income as adjusted |
| $ | 928.9 |
| $ | 321.5 |
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Fixed charges: |
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Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs; excludes capitalized interest) |
| $ | 216.6 |
| $ | 203.1 |
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Add: |
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Portion of rents representative of the interest factor |
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| 9.9 |
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| 8.1 |
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Fixed charges |
| $ | 226.5 |
| $ | 211.2 |
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Ratio of earnings to fixed charges |
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| 4.10 |
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| 1.52 |
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