EX-12 2 d54481exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

EXHIBIT 12
NORTHWEST PIPELINE GP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars)
                                         
    Years Ended December 31,  
    2007     2006     2005     2004     2003  
            (Restated)     (Restated)     (Restated)     (Restated)  
Earnings:
                                       
Income before income taxes
  $ 185,059     $ 85,668     $ 107,653     $ 119,138     $ 113,516  
 
                                       
Add:
                                       
Fixed charges:
                                       
Income on long-term debt
    46,828       43,649       38,164       38,721       37,144  
Other interest expense
    5,585       3,824       3,389       3,368       3,388  
Rental expense representative of interest factor
    521       693       854       1,002       1,350  
     
Total fixed charges
    52,934       48,166       42,407       43,091       41,882  
 
                                       
Total earnings as adjusted
  $ 237,993     $ 133,834     $ 150,060     $ 162,229     $ 155,398  
     
 
                                       
Fixed charges
  $ 52,934     $ 48,166     $ 42,407     $ 43,091     $ 41,882  
     
 
                                       
Ratio of earnings to fixed charges
    4.50       2.78       3.54       3.76       3.71  
     
     As described in Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements — Note 1. Summary of Significant Accounting Policies – Basis of Presentation, we have restated prior periods to reflect Williams’ purchase price allocations in our financial statements.