Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - PHILLIPS 66 PARTNERS LP | mlp-2016930_10q.htm |
| EX-32 - EXHIBIT 32 - PHILLIPS 66 PARTNERS LP | mlp-2016930_exhibit32.htm |
| EX-31.2 - EXHIBIT 31.2 - PHILLIPS 66 PARTNERS LP | mlp-2016930_exhibit312.htm |
| EX-31.1 - EXHIBIT 31.1 - PHILLIPS 66 PARTNERS LP | mlp-2016930_exhibit311.htm |
Exhibit 12
PHILLIPS 66 PARTNERS LP
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||||||||||||
Nine Months Ended September 30 | ||||||||||||||||||
Years Ended December 31 | ||||||||||||||||||
2016 | 2015* | 2014* | 2013* | 2012* | 2011* | |||||||||||||
Earnings Available for Fixed Charges | ||||||||||||||||||
Income before income taxes | $ | 221.8 | 189.5 | 135.6 | 95.8 | 68.1 | 63.7 | |||||||||||
Undistributed equity earnings | (3.8 | ) | (0.1 | ) | — | — | — | — | ||||||||||
Fixed charges, excluding capitalized interest** | 32.3 | 34.5 | 5.3 | 0.3 | — | — | ||||||||||||
$ | 250.3 | 223.9 | 140.9 | 96.1 | 68.1 | 63.7 | ||||||||||||
Fixed Charges | ||||||||||||||||||
Interest and expense on indebtedness, excluding capitalized interest | $ | 30.8 | 33.9 | 5.3 | 0.3 | — | — | |||||||||||
Capitalized interest | 4.4 | 31.6 | 6.9 | — | — | — | ||||||||||||
Interest portion of rental expense | 0.4 | 0.6 | — | — | — | — | ||||||||||||
$ | 35.6 | 66.1 | 12.2 | 0.3 | — | — | ||||||||||||
Ratio of Earnings to Fixed Charges | 7.0 | 3.4 | 11.5 | 320.3 | N/A | N/A | ||||||||||||
*Prior-period financial information has been retrospectively adjusted for the acquisitions of businesses under common control.
**Includes amortization of capitalized interest of approximately $1.1 million for the nine months ended September 30, 2016.