EX-12.1 2 kmi-03312014ex121.htm EXHIBIT KMI-03.31.2014 EX. 12.1


Exhibit 12.1
KINDER MORGAN, INC. AND SUBSIDIARIES
EXHIBIT 12.1 - STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratio amounts)

 
Three Months Ended March 31,
 
2014
 
2013
Earnings:
 
 
 
Pre-tax income from continuing operations before adjustment for net income attributable to the noncontrolling interests and equity earnings (including amortization of excess cost of equity investments) per statements of income
$
712

 
$
845

Add:
 
 
 
Fixed charges
476

 
429

Amortization of capitalized interest
1

 
1

Distributed income of equity investees
77

 
101

Less:
 
 
 
Interest capitalized from continuing operations
(18
)
 
(9
)
Noncontrolling interest in pre-tax income of subsidiaries with no fixed charges
74

 
98

Income as adjusted
$
1,322

 
$
1,465

 
 
 
 
Fixed charges:
 
 
 
Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs; excludes capitalized interest)
$
467

 
$
419

Add:
 
 
 
Portion of rents representative of the interest factor
9

 
10

Fixed charges
$
476

 
$
429

 
 
 
 
Ratio of earnings to fixed charges
2.78

 
3.41

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