ONEOK Partners (OKS) 10-K2015 FY Annual report

Filed: 23 Feb 16, 12:00am

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New words: Ambient, attain, attainment, bidirectional, Cana, charitable, choice, Circuit, citizen, client, cloud, Columbia, commence, confidence, constant, Continent, Council, currency, curtail, de, deficit, Deloitte, District, Earlier, EITF, El, Electricidad, element, encountered, exit, Fermaca, fewer, fraud, ground, implicate, KA, KAFA, KED, Kevin, KMF, KYE, KYN, language, lender, license, LIFO, McCarthy, meaningful, Mexican, Michael, mid, modest, monetary, move, nationwide, NDIC, nitrogen, nonattainment, nonprofit, nuclear, older, ozone, park, Paso, postponed, prefiling, prepay, proven, provisional, published, ratably, realigned, recompressed, redirect, referenced, remand, repaid, rescission, retail, Roadrunner, sharp, slowly, southeast, spanned, station, stay, Subtopic, syndicate, Task, TCA, Tortoise, Touche, transferee, transferor, underwriting, unplanned, upstream, valve, weak, weakened, WesTex, Westmoreland

Removed: aggregated, aggressively, American, Arbuckle, Array, automotive, Biopharma, Boulder, concept, County, emerging, extraction, faster, fill, formulation, fragmented, Garden, Gil, grid, indoor, initiate, Intersegment, KPMG, loaning, Lowell, manageable, marketed, McKenzie, mobility, occupied, octane, outdoor, output, population, pump, rapidly, ratemaking, reconfiguration, renegotiating, resale, respond, rig, route, split, Stateline, Thrift, travel, unanticipated, understating, uneconomical, Valley, vapor, weighted, wetland

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Exhibit 12



ONEOK Partners, L.P.
Computation of Ratio of Earnings to Fixed Charges

	Years Ended December 31,
(Unaudited)	2015			2014			2013			2012			2011
	(Thousands of dollars)
Fixed charges, as defined
Interest on long-term debt	$	357,069		$	326,299		$	284,589		$	238,706		$	239,275
Other interest	14,176			4,695			3,688			4,026			2,354
Amortization of debt discount, premium and expense	6,386			5,727			4,944			3,767			3,729
Interest on lease agreements	880			205			310			286			1,264
Total fixed charges	378,511			336,926			293,531			246,785			246,622
Earnings before income taxes and undistributed income of equity method investees	750,902			958,311			769,495			863,736			830,561
Earnings available for fixed charges	$	1,129,413		$	1,295,237		$	1,063,026		$	1,110,521		$	1,077,183
Ratio of earnings to fixed charges	2.98		x	3.84		x	3.62		x	4.50		x	4.37		x

For purposes of computing the ratio of earnings to fixed charges, “earnings” consists of pretax 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.