EX-12 2 d85495ex12.txt COMPUTATION OF RATIO OF EARNINGS 1 EXHIBIT 12 WILLIAMS ENERGY PARTNERS L.P. COMPUTATION OF RATIO OF EARNINGS TO CONSOLIDATED FIXED CHARGES AND PREFERENCE DIVIDENDS (DOLLARS IN THOUSANDS)
YEARS ENDED DECEMBER 31, -------------------------------------------- 2000 1999 1998 1997 1996 ------- ------- ------ ------ ------ Earnings: Income before income taxes.................... $ 4,847 $10,910 $9,432 $7,837 $5,283 Add: Interest expense -- net.................... 12,827 4,775 -- -- 724 ------- ------- ------ ------ ------ Total earnings as adjusted plus fixed charges............................. $17,674 $15,685 $9,432 $7,837 $6,007 ======= ======= ====== ====== ====== Combined fixed charges and preference dividends: Pretax effect of preference dividends on common units............................... $ -- $ -- $ -- $ -- $ -- Interest expense -- net....................... 12,827 4,775 -- -- 724 Interest capitalized.......................... 46 -- -- -- -- ------- ------- ------ ------ ------ Combined fixed charges..................... $12,873 $ 4,775 $ -- $ -- $ 724 ======= ======= ====== ====== ====== Ratio of earnings to combined fixed charges and preference dividend requirements.............. 1.37 3.28 -- -- 8.30 ======= ======= ====== ====== ======
Note: Common units with preferential dividend requirements were not issued until February 2001.