EX-12.1 3 exhibit_12.htm STATEMENT OF RATIO OF EARNINGS exhibit_12.htm
KINDER MORGAN ENERGY PARTNERS, L.P. AND SUBSIDIARIES
EXHIBIT 12.1 – STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars In millions except ratio amounts)

   
Year Ended December 31,
  
 
  
2010
    
2009
    
2008
    
2007
    
2006
  
Earnings:
Pre-tax income from continuing operations before cumulative effect of a change in accounting principle and before adjustment for noncontrolling interests and equity earnings (including amortization of excess cost of equity investments) per statements of income
   $  1,144.4     $  1,155.6     $  1,182.5     $  430.5     $  965.8  
Add:
                                        
Fixed charges                                                                 
     541.6       482.9       467.4       444.8       383.7  
Amortization of capitalized interest                                                                 
     4.0       3.8       3.0       2.0       1.3  
Distributed income of equity investees                                                                 
     219.8       234.5       158.0       101.6       66.3  
Less:
                                        
Interest capitalized from continuing operations
     (12.5 )     (32.9 )     (48.6 )     (31.4 )     (20.3 )
Noncontrolling interest in pre-tax income of
subsidiaries with no fixed charges                                                                 
     (0.4 )     (0.2 )     (0.3 )     (0.5 )     (0.5 )
Income as adjusted                                                                 
   $ 1,896.9     $ 1,843.7     $ 1,762.0     $ 947.0     $ 1,396.3  
                                         
                                         
Fixed charges:
Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs; excludes capitalized interest)
   $  520.1     $  464.4     $  446.8     $  428.5     $  365.8  
Add:
                                        
Portion of rents representative of the interest factor
     21.5       18.5       20.6       16.3       17.9  
Fixed charges                                                                 
   $ 541.6     $ 482.9     $ 467.4     $ 444.8     $ 383.7  
                                         
Ratio of earnings to fixed charges                                                                     
     3.50       3.82       3.77       2.13       3.64