EX-12.2 3 etp-12312017xex122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.2
SUNOCO LOGISTICS PARTNERS OPERATIONS, L.P.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except for ratio amounts)
(Unaudited)
 
Years Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense, net
$
142

 
$
157

 
$
141

 
$
76

 
$
77

Capitalized interest
172

 
111

 
76

 
79

 
21

Interest charges included in rental expense
12

 
7

 
7

 
6

 
4

Total fixed charges
326

 
275

 
224

 
161

 
102

Earnings:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income tax expense and noncontrolling interest
1,142

 
695

 
386

 
275

 
540

Less: equity in earnings of unconsolidated affiliates
(88
)
 
(39
)
 
(24
)
 
(25
)
 
(21
)
Total earnings
1,230

 
734

 
410

 
300

 
561

Add:
 
 
 
 
 
 
 
 
 
Fixed charges
326

 
275

 
224

 
161

 
102

Amortization of capitalized interest
5

 
4

 
3

 
1

 
1

Distributed income of equity investees
85

 
25

 
23

 
15

 
14

Less:
 
 
 
 
 
 
 
 
 
Interest capitalized
(172
)
 
(111
)
 
(76
)
 
(79
)
 
(21
)
Income available for fixed charges
$
1,474

 
$
927

 
$
584

 
$
398

 
$
657

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
4.52

 
3.37

 
2.61

 
2.47

 
6.44