Fixed Charges:

Interest cost and debt expense

Interest allocable to rental expense⁽¹⁾

Total

Earnings:

Income before income tax expense⁽²⁾

Income before income tax expense attributable to noncontrolling interests

Equity in income of 50 percent or less owned affiliated companies

Dividends received from 50 percent or less owned affiliated companies⁽³⁾

Fixed charges

Interest capitalized

Amortization of previously capitalized interest

Total

Ratio of Earnings to Fixed Charges

Represents one-third of the total operating lease rental expense which is that portion deemed to be interest.

Represents income before income tax expense for all consolidated entities, including Mid-Valley Pipeline Company and West Texas Gulf Pipe Line Company.

Represents dividends received from equity-method investments, which excludes dividends from Mid-Valley Pipeline Company and West Texas Gulf Pipe Line Company.