Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - PHILLIPS 66 PARTNERS LP | mlp-2018331_exhibit311.htm |
| 10-Q - 10-Q - PHILLIPS 66 PARTNERS LP | mlp-2018331_10q.htm |
| EX-32 - EXHIBIT 32 - PHILLIPS 66 PARTNERS LP | mlp-2018331_exhibit32.htm |
| EX-31.2 - EXHIBIT 31.2 - PHILLIPS 66 PARTNERS LP | mlp-2018331_exhibit312.htm |
Exhibit 12
PHILLIPS 66 PARTNERS LP
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||||||||||||
Three Months Ended March 31 | ||||||||||||||||||
Years Ended December 31 | ||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||
Earnings Available for Fixed Charges | ||||||||||||||||||
Income before income taxes | $ | 174 | 528 | 410 | 306 | 246 | 176 | |||||||||||
Undistributed equity earnings | (8 | ) | (1 | ) | 1 | — | — | — | ||||||||||
Fixed charges, excluding capitalized interest | 30 | 102 | 53 | 35 | 5 | — | ||||||||||||
Amortization of capitalized interest | 1 | 2 | 2 | — | — | — | ||||||||||||
$ | 197 | 631 | 466 | 341 | 251 | 176 | ||||||||||||
Fixed Charges | ||||||||||||||||||
Interest and expense on indebtedness, excluding capitalized interest | $ | 30 | 101 | 52 | 34 | 5 | — | |||||||||||
Capitalized interest | — | 1 | 5 | 32 | 7 | — | ||||||||||||
Interest portion of rental expense | — | 1 | 1 | 1 | — | — | ||||||||||||
$ | 30 | 103 | 58 | 67 | 12 | — | ||||||||||||
Ratio of Earnings to Fixed Charges | 6.6 | 6.1 | 8.0 | 5.1 | 20.9 | N/A | ||||||||||||