|
|
|
|
|
|
|
|
|
|
Previous: PANHANDLE EASTERN PIPE LINE CO, S-4, EX-10.(F), 2000-06-22 |
Next: PANHANDLE EASTERN PIPE LINE CO, S-4, EX-15, 2000-06-22 |
<PAGE> 1
EXHIBIT 12
CMS PANHANDLE EASTERN PIPE LINE COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
<TABLE>
<CAPTION>
Three months
ended
March 31, 2000 Year Ended December 31,
------------------ --------------------------------------------------------------------------
2000 1999 1998 1997 1996 1995
------------------ ------------ ----------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
Earnings Before Income Taxes $ 52 $ 121 $ 148 $ 129 $ 136 $ 160
Fixed Charges 21 82 86 80 72 42
------------------ ------------ ----------- -------------- -------------- --------------
Total $ 73 $ 203 $ 234 $ 209 $ 208 $ 202
================== ============ =========== ============== ============== ==============
Fixed Charges
Interest on debt $ 20 $ 78 $ 82 $ 76 $ 63 $ 37
Interest component of rentals 1 4 4 4 9 5
------------------ ------------ ----------- -------------- -------------- --------------
Fixed Charges $ 21 $ 82 $ 86 $ 80 $ 72 $ 42
================== ============ =========== ============== ============== ==============
Ratio of Earnings to Fixed Charges 3.5 2.5 2.7 2.6 2.9 4.8
</TABLE>
|
|