EX-12.1 3 h10373exv12w1.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EXHIBIT 12 CENTERPOINT ENERGY RESOURCES CORP. AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (THOUSANDS OF DOLLARS)
NINE MONTHS ENDED SEPTEMBER 30, -------------------------- 2002 2003 ---------- ---------- Net income ..................................... $ 71,524 $ 92,597 Income taxes ................................... 49,896 55,083 Capitalized interest ........................... (975) (953) ---------- ---------- 120,445 146,727 ---------- ---------- Fixed charges, as defined: Interest and distribution on trust preferred securities ...................... 113,611 128,200 Capitalized interest ........................ 975 953 Interest component of rentals charged to operating expense ......................... 6,575 5,897 ---------- ---------- Total fixed charges ......................... 121,161 135,050 ---------- ---------- Earnings, as defined ........................... $ 241,606 $ 281,777 ========== ========== Ratio of earnings to fixed charges ............. 1.99 2.09 ========== ==========