EX-12 4 a2075123zex-12.txt EXHIBIT 12 EXHIBIT 12 Questar Market Resources, Inc. and Subsidiaries Ratio of Earnings to Fixed Charges
Year Ended December 31, -------------------------------------------------- 2001 2000 1999 -------------------------------------------------- (Dollars In Thousands) EARNINGS Income before income taxes $155,352 $ 116,426 $ 61,371 Less income, plus loss from Canyon Creek (288) (162) (231) Plus distributions from Canyon Creek 252 304 297 Less income from Roden (213) (290) Plus distributions from Roden 301 355 Plus debt expense 22,872 22,922 17,363 Plus interest portion of rental expense 1,112 985 855 -------------------------------------------------- $179,388 $ 140,540 $ 79,655 ================================================== FIXED CHARGES Debt expense $ 22,872 $ 22,922 $ 17,363 Plus interest portion of rental expense 1,112 985 855 -------------------------------------------------- $ 23,984 $ 23,907 $ 18,218 ================================================== Ratio of Earnings to Fixed Charges 7.48 5.88 4.37
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%. Income before income taxes includes QMR's 50% share of pretax earnings of Blacks Fork. Distributions from less than 50% owned are included in the calculation, while earnings are from these same enterprises are excluded.