EX-99.2 5 ex992-ratioofearningstofix.htm EXHIBIT 99.2
Exhibit 99.2
ENERGY TRANSFER EQUITY, L.P.
Computation of Ratio of Earnings to Fixed Charges
(in millions, except for ratio amounts)
(Unaudited)

| Years Ended December 31,
| 2016 |  | 2015 |  | 2014 |  | 2013 |  | 2012
Fixed charges: |  |  |  |  |  |  |  |  |
Interest expense | $ | 1,803 |  |  | $ | 1,621 |  |  | $ | 1,368 |  |  | $ | 1,221 |  |  | $ | 1,018 |
Capitalized interest | 200 |  |  | 163 |  |  | 101 |  |  | 45 |  |  | 101 |
Interest expense included in rental expense | 14 |  |  | 22 |  |  | 10 |  |  | 16 |  |  | 6 |
Distribution to the Series A Convertible Redeemable Preferred Units | — |  |  | 3 |  |  | 3 |  |  | 6 |  |  | — |
Accretion of the Series A Convertible Redeemable Preferred Units | — |  |  | — |  |  | — |  |  | — |  |  | 1 |
Total fixed charges | 2,017 |  |  | 1,809 |  |  | 1,482 |  |  | 1,288 |  |  | 1,126 |
Earnings: |  |  |  |  |  |  |  |  |
Income from continuing operations before income taxes | 272 |  |  | 864 |  |  | 1,319 |  |  | 375 |  |  | 1,437 |
Less: equity in earnings of affiliates | (39 | ) |  | 276 |  |  | 332 |  |  | 236 |  |  | 212 |
Total earnings | 311 |  |  | 588 |  |  | 987 |  |  | 139 |  |  | 1,225 |
Add: |  |  |  |  |  |  |  |  |
Fixed charges | 2,017 |  |  | 1,809 |  |  | 1,482 |  |  | 1,288 |  |  | 1,126 |
Amortization of capitalized interest | 17 |  |  | 11 |  |  | 8 |  |  | 7 |  |  | 5 |
Distributed income of equity investees | 268 |  |  | 409 |  |  | 291 |  |  | 236 |  |  | 208 |
Less: |  |  |  |  |  |  |  |  |
Interest capitalized | (200 | ) |  | (163 | ) |  | (101 | ) |  | (45 | ) |  | (101 | )
Income available for fixed charges | $ | 2,413 |  |  | $ | 2,654 |  |  | $ | 2,667 |  |  | $ | 1,625 |  |  | $ | 2,463 |
Ratio of earnings to fixed charges | 1.20 |  |  | 1.47 |  |  | 1.80 |  |  | 1.26 |  |  | 2.19 |