WILLIAMS PARTNERS L.P. - FORM 10-K - EX-12 - February 26, 2016

Attached files

file filename
EX-24 - EX-24 - WILLIAMS PARTNERS L.P.wpz_20151231xex24.htm
EX-23.2 - EX-23.2 - WILLIAMS PARTNERS L.P.wpz_20151231xex232.htm
EX-23.1 - EX-23.1 - WILLIAMS PARTNERS L.P.wpz_20151231xex231.htm
EX-31.2 - EX-31.2 - WILLIAMS PARTNERS L.P.wpz_20151231xex312.htm
EX-10.22 - EX-10.22 - WILLIAMS PARTNERS L.P.wpz_20151231xex1022.htm
10-K - 10-K - WILLIAMS PARTNERS L.P.wpz_20151231x10k.htm
EX-32 - EX-32 - WILLIAMS PARTNERS L.P.wpz_20151231xex32.htm
EX-21 - EX-21 - WILLIAMS PARTNERS L.P.wpz_20151231xex21.htm
EX-31.1 - EX-31.1 - WILLIAMS PARTNERS L.P.wpz_20151231xex311.htm


Exhibit 12

Williams Partners L.P.
Computation of Ratio of Earnings to Fixed Charges
 
 
 
Years Ended December 31,
  
 
2015
 
2014
 
2013
 
2012
 
2011
 
 
(Millions)
Earnings:
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
 
$
(1,357
)
 
$
1,313

 
$
1,149

 
$
1,333

 
$
1,650

Less: Equity earnings
 
(335
)
 
(228
)
 
(104
)
 
(111
)
 
(142
)
Income (loss) before income taxes and equity earnings
 
(1,692
)
 
1,085

 
1,045

 
1,222

 
1,508

Add:
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest incurred
 
864

 
683

 
477

 
458

 
439

Rental expense representative of interest factor
 
22

 
16

 
10

 
8

 
7

Total fixed charges
 
886

 
699

 
487

 
466

 
446

Distributed income of equity-method investees
 
617

 
344

 
152

 
160

 
167

Less:
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
(53
)
 
(121
)
 
(90
)
 
(54
)
 
(24
)
Total earnings as adjusted
 
$
(242
)
 
$
2,007

 
$
1,594

 
$
1,794

 
$
2,097

Fixed charges
 
$
886

 
$
699

 
$
487

 
$
466

 
$
446

Ratio of earnings to fixed charges
 
*

 
2.87

 
3.27

 
3.85

 
4.70

_________
* Earnings are inadequate to cover fixed charges by $1,128 million for 2015.









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