EX-12 3 a2063692zex-12.txt EXHIBIT 12 Exhibit No. 12. Questar Market Resources, Inc. and Subsidiaries Ratio of Earnings to Fixed Charges (Unaudited)
9 months ended September 30, ----------------------------------------- 2001 2001 (Pro forma) 2000 --------- ---------------- --------- (Dollars in Thousands) EARNINGS Income before income taxes $ 127,831 $ 123,667 $ 77,133 Less income from Canyon Creek (229) (229) (128) Plus distributions from Canyon Creek 174 174 225 Less income from Roden (145) (145) Plus distributions from Roden 228 228 Plus debt expense 16,346 29,132 17,573 Plus interest capitalized during construction 559 559 168 Plus interest portion of rental expense 978 1,680 713 --------- --------- --------- $ 145,742 $ 155,066 $ 95,684 ========= ========= ========= FIXED CHARGES Debt expense $ 16,346 $ 29,132 $ 17,573 Plus interest capitalized during construction 559 559 168 Plus interest portion of rental expense 978 1,680 713 --------- --------- --------- $ 17,883 $ 31,371 $ 18,454 ========= ========= ========= Ratio of Earnings to Fixed Charges 8.15 4.94 5.19
1/ For purposes of this presentation, earnings represent income before income taxes and fixed charges. Fixed charges consist of total interest charges, amortization of debt issuance costs, and the interest portion of rental costs estimated at 50%. 2/ Income before income taxes includes QMR's 50% share of pretax earnings of Blacks Fork. 3/ Distributions from less than 50% owned enterprises are included in the calculation, while earnings are excluded. QMR's ownership interest in both Canyon Creek and Roden is about 15%. 4/ Pro forma to reflect the acquisition of Shenandoah Energy Inc as of January 1, 2001.