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Content analysis
?Positive | ||
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8th grade Good
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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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| Three Months Ended |
| Three Months Ended |
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Earnings: |
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Pre-tax income from continuing operations before adjustment for net income attributable to the noncontrolling interest and equity earnings (including amortization of excess cost of equity investments) per statements of income |
| $ | 253.5 |
| $ | 325.6 |
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Add: |
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Fixed charges |
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| 119.8 |
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| 113.5 |
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Amortization of capitalized interest |
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| 0.8 |
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| 1.0 |
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Distributed income of equity investees |
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| 56.5 |
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| 112.8 |
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Less: |
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Interest capitalized from continuing operations |
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| (10.7 | ) |
| (10.7 | ) |
Noncontrolling interest in pre-tax income of subsidiaries with no fixed charges |
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| (0.1 | ) |
| (0.1 | ) |
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Income as adjusted |
| $ | 419.8 |
| $ | 542.1 |
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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) |
| $ | 115.4 |
| $ | 108.7 |
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Add: |
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Portion of rents representative of the interest factor |
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| 4.4 |
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| 4.8 |
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Fixed charges |
| $ | 119.8 |
| $ | 113.5 |
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Ratio of earnings to fixed charges |
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| 3.50 |
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| 4.78 |
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