SEC Info - El Paso Corp/DE - ‘10-K’ for 12/31/07

El Paso Corp/DE – ‘10-K’ for 12/31/07 – EX-12

On: Thursday, 2/28/08, at 5:27pm ET · For: 12/31/07 · Accession #: 950129-8-1326 · File #: 1-14365

As Of Filer Filing For·On·As Docs:Size Issuer Agent 2/28/08 El Paso Corp/DE 10-K 12/31/07 48:3.8M Bowne - Houston/FA

Document/Exhibit Description Pages Size 1: 10-K Form 10-K - Annual Report HTML 1.56M 2: EX-10.A.1 Amendment No.1 to 1995 Compensation Plan for HTML 20K Non-Employee Directors 3: EX-10.B.2 Amendment No.2 to Stock Option Plan for HTML 19K Non-Employee Directors 37: EX-10.BB.1 Amendment No.1 to 2005 Supplemental Benefits Plan HTML 23K 4: EX-10.C.1 Amendment No.1 to 2001 Stock Option Plan for HTML 19K Non-Employee Directors 5: EX-10.C.2 Amendment No.2 to 2001 Stock Option Plan for HTML 19K Non-Employee Directors 6: EX-10.E 1999 Omnibus Incentive Compensation Plan HTML 177K 7: EX-10.E.1 Amendment No.1 to 2001 to the 1999 Omnibus HTML 18K Incentive Compensation Plan 8: EX-10.F 2001 Omnibus Incentive Compensation Plan HTML 177K 9: EX-10.F.1 Amendment No.1 to to the 2001 Omnibus Incentive HTML 18K Compensation Plan 10: EX-10.F.2 Amendment No.2 to to the 2001 Omnibus Incentive HTML 19K Compensation Plan 11: EX-10.F.3 Amendment No.3 to to the 2001 Omnibus Incentive HTML 22K Compensation Plan 12: EX-10.G Amended Supplemental Benefits Plan HTML 79K 13: EX-10.G.1 Amendment No.1 to Supplemental Benefits Plan HTML 21K 14: EX-10.G.5 Amendment No.5 to Amended Supplemental Benefits HTML 20K Plan 15: EX-10.H.1 Amendment No.1 to Senior Executive Survivor HTML 19K Benefit Plan 16: EX-10.H.2 Amendment No.2 to Senior Executive Survivor HTML 23K Benefit Plan 17: EX-10.I.1 Amendment No.1 to Key Executive Severance HTML 19K Protection Plan 18: EX-10.I.2 Amendment No.2 to Key Executive Severance HTML 27K Protection Plan 19: EX-10.I.3 Amendment No.3 to Key Executive Severance HTML 18K Protection Plan 20: EX-10.I.5 Amendment No.5 to Key Executive Severance HTML 27K Protection Plan, as Amended 21: EX-10.J.1 Amendment No.1 to 2004 Key Executive Severance HTML 28K Protection Plan 22: EX-10.K.1 Amendment No.1 to Director Charitable Award Plan HTML 18K 23: EX-10.L Amended Strategic Stock Plan HTML 117K 24: EX-10.L.1 Amendment No.1 to Strategic Stock Plan HTML 18K 25: EX-10.L.2 Amendment No.2 to Strategic Stock Plan HTML 20K 26: EX-10.L.3 Amendment No.3 to Strategic Stock Plan HTML 18K 27: EX-10.L.4 Amendment No.4 to Strategic Stock Plan HTML 19K 28: EX-10.N.1 Termination of the Executive Award Plan of Sonat HTML 18K Inc 29: EX-10.O Amended Omnibus Plan for Management Employees HTML 106K 30: EX-10.O.1 Amendment No.1 to Omnibus Plan for Management HTML 19K Employees 31: EX-10.O.2 Amendment No.2 to Omnibus Plan for Management HTML 18K Employees 32: EX-10.O.3 Amendment No.3 to Omnibus Plan for Management HTML 19K 33: EX-10.O.4 Amendment No.4 to Omnibus Plan for Management HTML 19K Employees 34: EX-10.P.1 Amendment No.1 to Amended Severance Pay Plan HTML 24K 35: EX-10.Y.1 Amendment No.2 to 2005 Compensation Plan for HTML 19K Non-Employee Directors 36: EX-10.Z.1 Amendment No.1 to 2005 Omnibus Incentive HTML 22K Compensation Plan 38: EX-12 Ratio of Earnings to Combined Fixed Charges and HTML 37K Preferred Stock Dividends 39: EX-21 Subsidiaries HTML 415K 40: EX-23.A Consent of Ernst & Young LLP HTML 24K 41: EX-23.B Consent of Pricewaterhousecoopers LLP HTML 19K 42: EX-23.C Consent of Ryder Scott Company, L.P. HTML 19K 43: EX-31.A Certification of CEO Pursuant to Section 302 HTML 21K 44: EX-31.B Certification of CFO Pursuant to Section 302 HTML 21K 45: EX-32.A Certification of CEO Pursuant to Section 906 HTML 17K 46: EX-32.B Certification of CFO Pursuant to Section 906 HTML 17K 47: EX-99.A Ryder Scott Reserve Report HTML 46K 48: EX-99.B Ryder Scott Reserve Report HTML 45K

Exhibit 12

EL PASO CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS IN MILLIONS)


	2003			2004			2005			2006			2007
Earnings
Pre-tax income (loss) from continuing operations	$	(1,392	)	$	(1,148	)	$	(837	)	$	522		$	658
Minority interests in consolidated subsidiaries		54			62			11			1			6
(Income) from equity investees		(293	)		(479	)		(281	)		(145	)		(101	)

Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries and (income) loss from equity investees		(1,631	)		(1,565	)		(1,107	)		378			563
Fixed charges		1,907			1,743			1,441			1,354			1,074
Distributed income of equity investees		291			260			209			139			189
Capitalized interest		(38	)		(41	)		(45	)		(45	)		(51	)
Preferred returns on consolidated subsidiaries		(54	)		(76	)		(11	)		(1	)		(6	)

Total earnings available for fixed charges	$	475		$	321		$	487		$	1,825		$	1,769


Fixed charges
Interest and debt expense	$	1,822		$	1,640		$	1,413		$	1,340		$	1,055
Interest component of rent		31			27			17			13			13
Preferred returns on consolidated subsidiaries		54			76			11			1			6


Total fixed charges	$	1,907		$	1,743		$	1,441		$	1,354		$	1,074

Ratio of earnings to fixed charges ⁽¹⁾		—			—			—			1.35			1.65


Fixed charges
Interest and debt expense	$	1,822		$	1,640		$	1,413		$	1,340		$	1,055
Interest component of rent		31			27			17			13			13
Preferred returns on consolidated subsidiaries		54			76			11			1			6
Preferred stock dividend of parent		—			—			27			36			56

Total fixed charges and preferred stock dividend	$	1,907		$	1,743		$	1,468		$	1,390		$	1,130


Ratio of earnings to combined fixed charges and preferred stock dividends ⁽²⁾		—			—			—			1.31			1.57


⁽¹⁾		^{Earnings for the years ended December 31, 2003, 2004 and 2005 were inadequate to cover fixed charges by $1,432 million, $1,422 million, and $954 million, respectively.}

⁽²⁾		^{Earnings for the years ended December 31, 2003, 2004 and 2005 were inadequate to cover fixed charges and preferred stock dividends by $1,432 million, $1,422 million, and $981 million, respectively.}

For purposes of computing these ratios, earnings means pre-tax income (loss) from continuing operations before:

	–		minority interests in consolidated subsidiaries;

	–		income or loss from equity investees, adjusted to reflect actual distributions from equity investments; and

	–		fixed charges;

less:

	–		capitalized interest; and

	–		preferred returns on consolidated subsidiaries.

Fixed charges means the sum of the following:

	–		interest costs, not including interest on tax liabilities which is included in income tax expense our income statement

	–		amortization of debt costs;

	–		that portion of rental expense which we believe represents an interest factor; and

	–		preferred stock dividends and preferred returns on consolidated subsidiaries.

This ‘10-K’ Filing

Date

Other Filings

Filed on:

2/28/08

For Period End:

12/31/07

12/31/05

10-K, 4, 5

12/31/04

10-K, 10-K/A, 4, NT 10-K

12/31/03

10-K, 11-K, 4, 5, NT 10-K, NT 11-K

List all Filings

El Paso Corp/DE – ‘10-K’ for 12/31/07 – EX-12

On: Thursday, 2/28/08, at 5:27pm ET · For: 12/31/07 · Accession #: 950129-8-1326 · File #: 1-14365

Previous ‘10-K’: ‘10-K’ on 2/28/07 for 12/31/06 · Next: ‘10-K’ on 3/2/09 for 12/31/08 · Latest: ‘10-K/A’ on 4/30/12 for 12/31/11

Annual Report — Form 10-K
Filing Table of Contents

EX-12 — Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

This exhibit is an HTML Document rendered as filed. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

El Paso Corp/DE – ‘10-K’ for 12/31/07 – EX-12

On: Thursday, 2/28/08, at 5:27pm ET · For: 12/31/07 · Accession #: 950129-8-1326 · File #: 1-14365

Previous ‘10-K’: ‘10-K’ on 2/28/07 for 12/31/06 · Next: ‘10-K’ on 3/2/09 for 12/31/08 · Latest: ‘10-K/A’ on 4/30/12 for 12/31/11

Annual Report — Form 10-KFiling Table of Contents

EX-12 — Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

This exhibit is an HTML Document rendered as filed. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

Annual Report — Form 10-K
Filing Table of Contents