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)
Six Months Ended | Six Months Ended | |||||||
June 30, 2010 | June 30, 2009 | |||||||
Earnings: Pre-tax income from continuing operations before adjustment for noncontrolling interests and equity earnings (including amortization of excess cost of equity investments) per statements of income | $ | 507.5 | $ | 549.7 | ||||
Add: | ||||||||
Fixed charges Services | 258.7 | 236.4 | ||||||
Amortization of capitalized interest | 2.0 | 1.8 | ||||||
Distributed income of equity investees | 101.9 | 100.3 | ||||||
Less: | ||||||||
Interest capitalized from continuing operations | (7.1 | ) | (21.3 | ) | ||||
Noncontrolling interests in pre-tax income of subsidiaries with no fixed charges | (0.1 | ) | (0.1 | ) | ||||
Income as adjusted | $ | 862.9 | $ | 866.8 | ||||
Fixed charges: Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs; excludes capitalized interest) | $ | 248.0 | $ | 227.3 | ||||
Add: | ||||||||
Portion of rents representative of the interest factor Services | 10.7 | 9.1 | ||||||
Fixed charges | $ | 258.7 | $ | 236.4 | ||||
Ratio of earnings to fixed charges | 3.34 | 3.67 | ||||||