EX-12 2 oks2016ratiocomputation.htm OKS RATIO COMPUTATION Exhibit
Exhibit 12


ONEOK Partners, L.P.
Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
(Unaudited)
2016
 
2015
 
2014
 
2013
 
2012
 
 
(Thousands of dollars)
Fixed charges, as defined
 
 
 
 
 
 
 
 
 
 
Interest on long-term debt
$
339,799

 
$
357,069

 
$
326,299

 
$
284,589

 
$
238,706

 
Other interest
33,907

 
14,176

 
4,695

 
3,688

 
4,026

 
Amortization of debt discount, premium
and expense
6,416

 
6,386

 
5,727

 
4,944

 
3,767

 
Interest on lease agreements
1,031

 
880

 
205

 
310

 
286

 
Total fixed charges
381,153

 
378,511

 
336,926

 
293,531

 
246,785

 
Earnings before income taxes and undistributed
income of equity method investees
1,086,187

 
750,902

 
958,311

 
769,495

 
863,736

 
Earnings available for fixed charges
$
1,467,340

 
$
1,129,413

 
$
1,295,237

 
$
1,063,026

 
$
1,110,521

 
Ratio of earnings to fixed charges
3.85

x
2.98

x
3.84

x
3.62

x
4.50

x
 
For purposes of computing the ratio of earnings to fixed charges, “earnings” consists of pretax income from continuing operations before adjustment for income or loss from equity investees plus fixed charges and distributed income of equity investees, less interest capitalized. “Fixed charges” consists of interest charges, the amortization of debt discounts and issue costs and the representative interest portion of operating leases.