Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - El Paso Pipeline Partners, L.P. | h69778e10vk.htm |
| EX-21 - EX-21 - El Paso Pipeline Partners, L.P. | h69778exv21.htm |
| EX-32.A - EX-32.A - El Paso Pipeline Partners, L.P. | h69778exv32wa.htm |
| EX-31.A - EX-31.A - El Paso Pipeline Partners, L.P. | h69778exv31wa.htm |
| EX-31.B - EX-31.B - El Paso Pipeline Partners, L.P. | h69778exv31wb.htm |
| EX-10.M - EX-10.M - El Paso Pipeline Partners, L.P. | h69778exv10wm.htm |
| EX-32.B - EX-32.B - El Paso Pipeline Partners, L.P. | h69778exv32wb.htm |
| EX-23.B - EX-23.B - El Paso Pipeline Partners, L.P. | h69778exv23wb.htm |
| EX-23.A - EX-23.A - El Paso Pipeline Partners, L.P. | h69778exv23wa.htm |
Exhibit 12
EL PASO PIPELINE PARTNERS
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS, EXCEPT FOR RATIO)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS, EXCEPT FOR RATIO)
| FOR THE YEARS ENDED DECEMBER 31, | ||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Earnings |
||||||||||||||||||||
Pre-tax income from continuing operations |
279.5 | 234.0 | 213.5 | 205.2 | 145.8 | |||||||||||||||
Income from equity investees |
(53.4 | ) | (32.9 | ) | (4.1 | ) | (0.4 | ) | — | |||||||||||
Pre-tax income from continuing operations
before income from equity investees |
226.1 | 201.1 | 209.4 | 204.8 | 145.8 | |||||||||||||||
Fixed charges |
76.8 | 64.9 | 64.3 | 57.6 | 41.0 | |||||||||||||||
Distributed income of equity investees |
43.8 | 23.1 | — | — | — | |||||||||||||||
Allowance for funds used during construction |
(1.9 | ) | (2.7 | ) | (2.6 | ) | (1.4 | ) | (0.8 | ) | ||||||||||
Total earnings available for fixed charges |
344.8 | 286.4 | 271.1 | 261.0 | 186.0 | |||||||||||||||
Fixed charges |
||||||||||||||||||||
Interest and debt costs expense |
76.2 | 64.9 | 64.1 | 56.8 | 40.2 | |||||||||||||||
Interest component of rent |
0.6 | — | 0.2 | 0.8 | 0.8 | |||||||||||||||
Total fixed charges |
76.8 | 64.9 | 64.3 | 57.6 | 41.0 | |||||||||||||||
Ratio of earnings to fixed charges |
4.5 | 4.4 | 4.2 | 4.5 | 4.5 | |||||||||||||||
For purposes of computing these ratios, earnings means pre-tax income from continuing operations
before:
- income from equity investees, adjusted to reflect actual distributions from equity investments;
and
- fixed charges;
less
- allowance for funds used during construction
Fixed charges means the sum of the following:
- interest costs;
- amortization of debt costs; and
- that portion of rental expense which we believe represents an interest factor.