EX-12 2 ratioofearningstofixedchar.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges 6.30


 
 
 
Exhibit 12

 
 
 
 
EL PASO PIPELINE PARTNERS, L.P.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
Six Months Ended June 30,
 
2013
 
2012
 
(In millions, except for ratio)
Earnings:
 
Income from continuing operations before income taxes
$
310

 
$
260

Income from equity investees
(6
)
 
(7
)
Income before income taxes before adjustment for income from equity investees
304

 
253

Add:
 
 
 
Fixed charges
152

 
146

Distributed income of equity investees
7

 
6

Allowance for funds used during construction (AFUDC)

 
(1
)
Income as adjusted
$
463

 
$
404

 

 

Fixed Charges:

 

Interest and Debt Expense, Net per Statements of Income (Includes Amortization of Debt Discount, Premium and Debt Issuance Costs)
$
151

 
$
145

Add:
 
 
 
Portion of Rents Representative of the Interest Factor
1

 
1

Fixed Charges
$
152

 
$
146

 


 


Ratio of Earnings to Fixed Charges
3.0

 
2.8