Williams Partners L.P. - FORM 10-Q - EX-12

file	filename
EXCEL - IDEA: XBRL DOCUMENT - Williams Partners L.P.	Financial_Report.xls
10-Q - FORM 10-Q - Williams Partners L.P.	c58638e10vq.htm
EX-31.1 - EX-31.1 - Williams Partners L.P.	c58638exv31w1.htm
EX-32 - EX-32 - Williams Partners L.P.	c58638exv32.htm
EX-31.2 - EX-31.2 - Williams Partners L.P.	c58638exv31w2.htm

Exhibit 12

Williams Partners L.P.
Computation of Ratio of Earnings to Fixed Charges


	Six months ended
	June 30, 2010
	(Millions)
Earnings:
Income before income taxes	$	538
Less: Equity earnings, excluding proportionate share from 50% owned investees and unconsolidated majority-owned investees		(32	)


Income before income taxes and equity earnings		506

Add:
Fixed charges:
Interest accrued, including proportionate share from 50% owned investees and unconsolidated majority-owned investees		182
Rental expense representative of interest factor		3

Total fixed charges		185

Distributed income of equity-method investees, excluding proportionate share from 50% owned investees and unconsolidated majority-owned investees		37

Less:
Capitalized interest		(19	)


Total earnings as adjusted	$	709


Fixed charges	$	185


Ratio of earnings to fixed charges (a)		3.83


(a)		As described in Note 1 of Notes to Consolidated Financial Statements, because the entities acquired in the Dropdown were affiliates of Williams at the time of the acquisition, this transaction is accounted for as a combination of entities under common control, similar to a pooling of interests, whereby the assets and liabilities of the acquired entities are combined with ours at their historical amounts. As a result, income before income taxes shown above includes approximately $163 million of net income applicable to pre-partnership operations, which is fully allocated to our general partner.

Williams Partners L.P. - FORM 10-Q - EX-12 - July 29, 2010