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Filing tables
Filing exhibits
- 10-K Annual report
- 3.34 Exhibit 3.34
- 3.35 Exhibit 3.35
- 10.1 Exhibit 10.1
- 10.2 Exhibit 10.2
- 10.3 Exhibit 10.3
- 10.4 Exhibit 10.4
- 10.5 Exhibit 10.5
- 10.6 Exhibit 10.6
- 10.7 Exhibit 10.7
- 10.8 Exhibit 10.8
- 10.9 Exhibit 10.9
- 10.10 Exhibit 10.10
- 10.11 Exhibit 10.11
- 10.12 Exhibit 10.12
- 10.13 Exhibit 10.13
- 10.14 Exhibit 10.14
- 10.15 Exhibit 10.15
- 10.16 Exhibit 10.16
- 10.17 Exhibit 10.17
- 10.18 Exhibit 10.18
- 10.19 Exhibit 10.19
- 10.20 Exhibit 10.20
- 10.21 Exhibit 10.21
- 10.22 Exhibit 10.22
- 10.23 Exhibit 10.23
- 10.24 Exhibit 10.24
- 10.25 Exhibit 10.25
- 10.26 Exhibit 10.26
- 10.27 Exhibit 10.27
- 10.28 Exhibit 10.28
- 10.29 Exhibit 10.29
- 10.30 Exhibit 10.30
- 10.31 Exhibit 10.31
- 10.32 Exhibit 10.32
- 10.33 Exhibit 10.33
- 10.34 Exhibit 10.34
- 10.35 Exhibit 10.35
- 10.36 Exhibit 10.36
- 10.37 Exhibit 10.37
- 12.1 Exhibit 12.1
- 21.1 Exhibit 21.1
- 23.1 Exhibit 23.1
- 31.1 Exhibit 31.1
- 31.2 Exhibit 31.2
- 32.1 Exhibit 32.1
- 32.2 Exhibit 32.2
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EXHIBIT 12.1
ENBRIDGE INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the Year Ended December 31, | ||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||
(dollars in millions, except ratio amounts) | ||||||||||||||
Earnings/(loss) | $ | 3,266 | $ | 2,309 | $ | (159) | $ | 1,562 | $ | 490 | ||||
Add: Income tax (recovery)/expense | (2,697) | 142 | 170 | 611 | 123 | |||||||||
Less: Income from equity investments | (1,102) | (428) | (475) | (368) | (330) | |||||||||
Earnings/(loss) from continuing operations before income taxes and | ||||||||||||||
noncontrolling interests | (533) | 2,023 | (464) | 1,805 | 283 | |||||||||
Add: | Fixed Charges | 3,121 | 2,057 | 2,120 | 1,597 | 1,243 | ||||||||
Distributed income of equity investees | 1,264 | 827 | 727 | 565 | 701 | |||||||||
Less: | Interest capitalized | (391) | (321) | (353) | (416) | (250) | ||||||||
Preferred dividend requirements of consolidated subsidiaries | (35) | (2) | (2) | (2) | (2) | |||||||||
Total earnings as adjusted | $ | 3,426 | $ | 4,584 | $ | 2,028 | $ | 3,549 | $ | 1,975 | ||||
Fixed Charges | ||||||||||||||
Interest expense - net | $ | 2,556 | $ | 1,590 | $ | 1,624 | $ | 1,129 | $ | 947 | ||||
Estimated interest portion of rental expense | 174 | 146 | 143 | 52 | 46 | |||||||||
Interest capitalized | 391 | 321 | 353 | 416 | 250 | |||||||||
Fixed Charges | $ | 3,121 | $ | 2,057 | $ | 2,120 | $ | 1,597 | $ | 1,243 | ||||
Preferred dividend pre-tax income requirements | 58 | 313 | (20) | 357 | 266 | |||||||||
Combined fixed charges and preferred dividends | 3,179 | 2,370 | 2,100 | 1,954 | 1,509 | |||||||||
Ratio of earnings to fixed charges¹ | 1.1 | 2.2 | 1.0 | 2.2 | 1.6 | |||||||||
Ratio of earnings to fixed charges and preferred dividends | 1.1 | 1.9 | 1.0 | 1.8 | 1.3 | |||||||||
¹ The ratio coverage in 2015 was less than 1:1. We would have needed to generate additional earnings of $92 million to achieve a coverage ratio of 1:1 in 2015. |