EX-12 4 ratioofearningstofixedchar.htm EXHIBIT: RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges


 
 
 
Exhibit 12
 
 
 
 
 
 
EL PASO PIPELINE PARTNERS, L.P.
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
(In Millions, Except For Ratio)
 
 
 
 
 
 
 
Three Months Ended March 31,
 
 
2013
 
2012
(1) 
 
 
 
Earnings:
 
 
Income from continuing operations before income taxes
$
174

 
$
155

 
Income from equity investees
(3
)
 
(3
)
 
Income before income taxes before adjustment for income from equity investees
171

 
152

 
Add:
 
 
 
 
Fixed Charges
76

 
73

 
Distributed Income of Equity Investees
4

 
3

 
Less:
 
 
 
 
Allowance for funds used during construction (AFUDC)
—

 
(1
)
 
Income as adjusted
$
251

 
$
227

 
 

 

 
Fixed Charges:

 

 
Interest and Debt Expense, Net per Statements of Income (Includes Amortization of Debt Discount, Premium and Debt Issuance Costs)
$
76

 
$
72

 
Add:
 
 
 
 
Portion of Rents Representative of the Interest Factor
—

 
1

 
Fixed Charges
$
76

 
$
73

 
 


 


 
Ratio of Earnings to Fixed Charges
3.3

 
3.1

 
 —————————
(1) Retrospectively adjusted as discussed in Note 2 to our consolidated financial statements.