El Paso Pipeline Partners, L.P. - FORM 10-Q - EX-12 - EXHIBIT 12 (RATIO OF EARNINGS TO FIXED CHARGES) - May 7, 2010

Attached files

file filename
10-Q - EL PASO PIPELINE PARTNERS, L.P. 2010 1ST QUARTER FORM 10-Q - El Paso Pipeline Partners, L.P.epb10q03312010.htm
EX-10.B - EXHIBIT 10.B (EEC GUARANTY DATED 04-01-2010) - El Paso Pipeline Partners, L.P.exhibit10b.htm
EX-31.B - EXHIBIT 31.B (CFO SECTION 302 CERTIFICATION) - El Paso Pipeline Partners, L.P.exhibit31b.htm
EX-10.A - EXHIBIT 10.A (EEC FIRM TRANSPORTATION SERVICE AGREEMENT DATED 10-05-2007) - El Paso Pipeline Partners, L.P.exhibit10a.htm
EX-10.D - EXHIBIT 10.D (SLNG GUARANTY DATED 04-01-2010) - El Paso Pipeline Partners, L.P.exhibit10d.htm
EX-31.A - EXHIBIT 31.A (CEO SECTION 302 CERTIFICATION) - El Paso Pipeline Partners, L.P.exhibit31a.htm
EX-32.A - EXHIBIT 32.A (CEO SECTION 906 CERTIFICATION) - El Paso Pipeline Partners, L.P.exhibit32a.htm
EX-10.C - EXHIBIT 10.C (SLNG SERVICE AGREEMENT DATED 10-05-2007) - El Paso Pipeline Partners, L.P.exhibit10c.htm
EX-32.B - EXHIBIT 32.B (CFO SECTION 906 CERTIFICATION) - El Paso Pipeline Partners, L.P.exhibit32b.htm
 
 
Exhibit 12

 
EL PASO PIPELINE PARTNERS, L.P.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 (DOLLARS IN MILLIONS)
 
             
   
FOR THE QUARTER ENDED MARCH 31,
  
   
2010
    
2009
  
             
Earnings
            
Income before income taxes
   $ 130.1     $ 89.5  
Income from equity investees
     (19.7 )     (12.8 )
             Income before income taxes before adjustment for income from equity investees     110.4       76.7  
               
Fixed charges
     26.1       19.7  
Distributed income of equity investees
     21.2       9.1  
Allowance for funds used during construction
     (6.6 )     (3.5 )
Total earnings available for fixed charges
   $ 151.1     $ 102.0  
                 
Fixed charges
                
Interest and debt expense
   $ 25.7     $ 19.4  
Interest component of rent
     0.4       0.3  
                 
Total fixed charges
   $ 26.1     $ 19.7  
                 
Ratio of earnings to fixed charges
     5.8       5.2  
                 
                 
 
 
For purposes of computing these ratios, earnings means income before income taxes 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.
 

 

El Paso Pipeline Partners, L.P. Reports