EX-12 2 h23056exv12.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, --------------------------------------------------------------- 2000 2001 2002 2003 2004 ----------- ----------- ----------- ----------- ----------- Income from continuing operations................................ $ 98,228 $ 67,244 $ 120,060 $ 128,878 $ 144,109 Income taxes for continuing operations........................... 93,272 58,287 87,643 58,706 86,497 Minority interest expense (income)............................... (37) (36) 11 (55) (65) Capitalized interest............................................. (1,982) (185) (1,202) (851) (1,791) ----------- ----------- ----------- ----------- ----------- 189,481 125,310 206,512 186,678 228,750 ----------- ----------- ----------- ----------- ----------- Fixed charges, as defined: Interest expense............................................... 142,861 154,965 153,688 178,973 178,185 Capitalized interest........................................... 1,982 185 1,202 851 1,791 Distribution on trust preferred securities..................... 29 28 25 12 -- Interest component of rentals charged to operating expense..... 10,934 10,369 10,188 9,252 9,978 ----------- ----------- ----------- ----------- ----------- Total fixed charges............................................ 155,806 165,547 165,103 189,088 189,954 ----------- ----------- ----------- ----------- ----------- Earnings, as defined............................................. $ 345,287 $ 290,857 $ 371,615 $ 375,766 $ 418,704 =========== =========== =========== =========== =========== Ratio of earnings to fixed charges............................... 2.22 1.76 2.25 1.99 2.20 =========== =========== =========== =========== ===========