Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - PHILLIPS 66 PARTNERS LP | mlp-2017930_exhibit32.htm |
| EX-31.2 - EXHIBIT 31.2 - PHILLIPS 66 PARTNERS LP | mlp-2017930_exhibit312.htm |
| EX-31.1 - EXHIBIT 31.1 - PHILLIPS 66 PARTNERS LP | mlp-2017930_exhibit311.htm |
| 10-Q - 10-Q - PHILLIPS 66 PARTNERS LP | mlp-2017930_10q.htm |
Exhibit 12
PHILLIPS 66 PARTNERS LP
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||||||||||||
Nine Months Ended September 30 | ||||||||||||||||||
Years Ended December 31 | ||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||
Earnings Available for Fixed Charges | ||||||||||||||||||
Income before income taxes | $ | 300 | 410 | 306 | 246 | 176 | 123 | |||||||||||
Adjustment to equity earnings for cash distributions received | 2 | 1 | — | — | — | — | ||||||||||||
Fixed charges, excluding capitalized interest | 73 | 53 | 35 | 5 | — | — | ||||||||||||
Amortization of capitalized interest | 1 | 2 | — | — | — | — | ||||||||||||
$ | 376 | 466 | 341 | 251 | 176 | 123 | ||||||||||||
Fixed Charges | ||||||||||||||||||
Interest and expense on indebtedness, excluding capitalized interest | $ | 71 | 52 | 34 | 5 | — | — | |||||||||||
Capitalized interest | — | 5 | 32 | 7 | — | — | ||||||||||||
Interest portion of rental expense | 2 | 1 | 1 | — | — | — | ||||||||||||
$ | 73 | 58 | 67 | 12 | — | — | ||||||||||||
Ratio of Earnings to Fixed Charges | 5.2 | 8.0 | 5.1 | 20.9 | N/A | N/A | ||||||||||||