Attached files
file | filename |
---|---|
EX-23.3 - EXHIBIT 23.3 - PHILLIPS 66 PARTNERS LP | mlp-20171231_10xkxex233.htm |
EX-32 - EXHIBIT 32 - PHILLIPS 66 PARTNERS LP | mlp-20171231_10xkxex32.htm |
EX-31.2 - EXHIBIT 31.2 - PHILLIPS 66 PARTNERS LP | mlp-20171231_10xkxex312.htm |
EX-31.1 - EXHIBIT 31.1 - PHILLIPS 66 PARTNERS LP | mlp-20171231_10kxex311.htm |
EX-23.2 - EXHIBIT 23.2 - PHILLIPS 66 PARTNERS LP | mlp-20171231_10xkxex232.htm |
EX-23.1 - EXHIBIT 23.1 - PHILLIPS 66 PARTNERS LP | mlp-20171231_10xkxex231.htm |
EX-21 - EXHIBIT 21 - PHILLIPS 66 PARTNERS LP | mlp-20171231_10xkxex21.htm |
10-K - 10-K - PHILLIPS 66 PARTNERS LP | mlp-20171231_10xk.htm |
Exhibit 12
PHILLIPS 66 PARTNERS LP
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | |||||||||||||||
Year Ended December 31 | |||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||
Earnings Available for Fixed Charges | |||||||||||||||
Income before income taxes | $ | 528 | 410 | 306 | 246 | 176 | |||||||||
Adjustment to equity earnings for cash distributions received | (1 | ) | 1 | — | — | — | |||||||||
Fixed charges, excluding capitalized interest | 102 | 53 | 35 | 5 | — | ||||||||||
Amortization of capitalized interest | 2 | 2 | — | — | — | ||||||||||
$ | 631 | 466 | 341 | 251 | 176 | ||||||||||
Fixed Charges | |||||||||||||||
Interest and expense on indebtedness, excluding capitalized interest | $ | 101 | 52 | 34 | 5 | — | |||||||||
Capitalized interest | 1 | 5 | 32 | 7 | — | ||||||||||
Interest portion of rental expense | 1 | 1 | 1 | — | — | ||||||||||
$ | 103 | 58 | 67 | 12 | — | ||||||||||
Ratio of Earnings to Fixed Charges | 6.1 | 8.0 | 5.1 | 20.9 | N/A |