Attached files
| file | filename |
|---|---|
| 10-K - 10-K - Spectra Energy Partners, LP | sep-2016123110xk.htm |
| EX-21.1 - EXHIBIT 21.1 - Spectra Energy Partners, LP | sep-20161231exx211.htm |
| EX-31.1 - EXHIBIT 31.1 - Spectra Energy Partners, LP | sep-20161231exx311.htm |
| EX-31.2 - EXHIBIT 31.2 - Spectra Energy Partners, LP | sep-20161231exx312.htm |
| EX-24.1 - EXHIBIT 24.1 - Spectra Energy Partners, LP | sep-20161231exx241.htm |
| EX-32.2 - EXHIBIT 32.2 - Spectra Energy Partners, LP | sep-20161231exx322.htm |
| EX-3.2 - EXHIBIT 3.2 - Spectra Energy Partners, LP | sep-20161231exx32.htm |
| EX-32.1 - EXHIBIT 32.1 - Spectra Energy Partners, LP | sep-20161231exx321.htm |
| EX-23.1 - EXHIBIT 23.1 - Spectra Energy Partners, LP | sep-20161231exx231.htm |
EXHIBIT 12.1
SPECTRA ENERGY PARTNERS, LP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.
Year Ended December 31, | |||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||
(in millions) | |||||||||||||||||||||
Earnings as defined for fixed charges calculation | |||||||||||||||||||||
Add: | |||||||||||||||||||||
Pretax income from continuing operations (a) | $ | 1,130 | $ | 1,110 | $ | 929 | $ | 649 | $ | 519 | |||||||||||
Fixed charges | 278 | 265 | 253 | 389 | 414 | ||||||||||||||||
Distributed income of equity investees | 110 | 160 | 131 | 97 | 90 | ||||||||||||||||
Deduct: | |||||||||||||||||||||
Interest capitalized (b) | 47 | 19 | 9 | 38 | 19 | ||||||||||||||||
Total earnings (as defined for the Fixed Charges calculation) | $ | 1,471 | $ | 1,516 | $ | 1,304 | $ | 1,097 | $ | 1,004 | |||||||||||
Fixed charges: | |||||||||||||||||||||
Interest on debt, including capitalized portions | $ | 271 | $ | 258 | $ | 247 | $ | 383 | $ | 407 | |||||||||||
Estimate of interest within rental expense | 7 | 7 | 6 | 6 | 7 | ||||||||||||||||
Total fixed charges | $ | 278 | $ | 265 | $ | 253 | $ | 389 | $ | 414 | |||||||||||
Ratio of earnings to fixed charges | 5.3 | 5.7 | 5.2 | 2.8 | 2.4 | ||||||||||||||||
_______
(a) | Excludes earnings or loss from equity investments and adjustment for noncontrolling interests. |
(b) | Excludes equity costs related to allowance for funds used during construction that are included in Other Income and Expenses, Net in the Consolidated Statements of Operations. |