Attached files
Exhibit 12
EL PASO PIPELINE PARTNERS, L.P.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| For The Three Months Ended March 31, | ||||||||
| 2012 | 2011 | |||||||
| (in millions, except for ratio) | ||||||||
| Earnings |
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| Income before income taxes |
$ | 142 | $ | 163 | ||||
| Income from equity investees |
(3 | ) | (4 | ) | ||||
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| Income before income taxes before adjustment for income from equity investees |
139 | 159 | ||||||
| Fixed charges |
70 | 61 | ||||||
| Distributed income of equity investees |
3 | 1 | ||||||
| Allowance for funds used during construction |
(1 | ) | (1 | ) | ||||
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| Total earnings available for fixed charges |
$ | 211 | $ | 220 | ||||
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| Fixed charges |
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| Interest and debt expense |
$ | 69 | $ | 60 | ||||
| Interest component of rent |
1 | 1 | ||||||
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| Total fixed charges |
$ | 70 | $ | 61 | ||||
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| Ratio of earnings to fixed charges |
3.0 | 3.6 | ||||||
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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. |