EX-12 2 h33323exv12.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EXHIBIT 12 CENTERPOINT ENERGY RESOURCES CORP. AND SUBSIDIARIES (AN INDIRECT WHOLLY OWNED SUBSIDIARY OF CENTERPOINT ENERGY, INC.) COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (MILLIONS OF DOLLARS)
YEAR ENDED DECEMBER 31, ------------------------------------- 2001 2002 2003 2004 2005 ----- ----- ----- ----- ----- Net income................................. $ 67 $ 120 $ 129 $ 144 $ 193 Income taxes............................... 58 88 59 87 116 Capitalized interest....................... -- (1) (1) (2) (1) ----- ----- ----- ----- ----- 125 207 187 229 308 ----- ----- ----- ----- ----- Fixed charges, as defined: Interest expense........................ 155 154 179 178 176 Capitalized interest.................... -- 1 1 2 1 Interest component of rentals charged to operating expense.................... 11 10 9 10 11 ----- ----- ----- ----- ----- Total fixed charges..................... 166 165 189 190 188 ----- ----- ----- ----- ----- Earnings, as defined....................... $ 291 $ 372 $ 376 $ 419 $ 496 ===== ===== ===== ===== ===== Ratio of earnings to fixed charges......... 1.76 2.25 1.99 2.20 2.64 ===== ===== ===== ===== =====