EX-12 3 h13313exv12.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit 12 CENTERPOINT ENERGY RESOURCES CORP. (AN INDIRECT WHOLLY OWNED SUBSIDIARY OF CENTERPOINT ENERGY, INC.) COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (THOUSANDS OF DOLLARS)
YEAR ENDED DECEMBER 31, --------------------------------------------------------------------- 1999 2000 2001 2002 2003 --------- --------- --------- --------- --------- Income from continuing operations ................ $ 103,871 $ 98,228 $ 67,244 $ 120,060 $ 128,878 Income taxes for continuing operations ........... 88,781 93,272 58,287 87,643 58,706 Minority interest expense (income) ............... -- (37) (36) 11 (55) Capitalized interest ............................. (1,908) (1,982) (185) (1,202) (851) --------- --------- --------- --------- --------- 190,744 189,481 125,310 206,512 186,678 --------- --------- --------- --------- --------- Fixed charges, as defined: Interest expense .............................. 119,500 142,861 154,965 153,688 178,973 Capitalized interest .......................... 1,908 1,982 185 1,202 851 Distribution on trust preferred securities .... 357 29 28 25 12 Interest component of rentals charged to operating expense ........................ 10,975 10,934 10,369 10,188 9,252 --------- --------- --------- --------- --------- Total fixed charges ........................... 132,740 155,806 165,547 165,103 189,088 --------- --------- --------- --------- --------- Earnings, as defined ............................. $ 323,484 $ 345,287 $ 290,857 $ 371,615 $ 375,766 ========= ========= ========= ========= ========= Ratio of earnings to fixed charges ............... 2.44 2.22 1.76 2.25 1.99 ========= ========= ========= ========= =========