ONEOK Partners (OKS) 10-K2011 FY Annual report

Filed: 21 Feb 12, 12:00am

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Removed: abuse, advisory, alcohol, Anadarko, attended, automatically, Barker, Bison, Black, characterize, collectibility, concurrent, contractually, deputy, dramatically, EPACT, exercisable, existence, expiration, expiring, fraud, heavily, interfere, language, manipulative, Mesa, mix, northeastern, originally, par, placement, pursued, realize, removing, rupture, shutdown, spending, stipulated, stormwater, Sycamore, telephone, unsold, weighted

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Exhibit 12

ONEOK Partners, L.P.

Computation of Ratio of Earnings to Fixed Charges


	Years Ended December 31,

(Unaudited)	2011			2010			2009			2008			2007
	(Thousands of dollars)
Fixed Charges, as defined
Interest on long-term debt	$	239,275		$	202,968		$	207,684		$	172,810		$	146,046
Other interest		2,354			2,624			12,136			12,426			4,714
Amortization of debt discount, premium and expense		3,729			2,547			2,337			1,942			1,765
Interest on lease agreements		1,264			1,484			3,641			6,341			6,392
Total Fixed Charges		246,622			209,623			225,798			193,519			158,917
Earnings before income taxes and undistributed income of equity method investees		830,561			479,636			468,611			618,848			417,305
Earnings available for fixed charges	$	1,077,183		$	689,259		$	694,409		$	812,367		$	576,222
Ratio of earnings to fixed charges		4.37	x		3.29	x		3.08	x		4.20	x		3.63	x

For purposes of computing the ratio of earnings to fixed charges, "earnings" consists of pre-tax income from continuing operations before adjustment for income or loss from equity investees plus fixed charges and distributed income of equity investees, less interest capitalized. "Fixed charges" consists of interest charges, the amortization of debt discounts and issue costs and the representative interest portion of operating leases.