EX-99 4 qmr8k052709ex992.htm EXHIBIT 99.2 Exhibit 12


Exhibit 99.2.


Questar Market Resources, Inc.

Ratio of Earnings to Fixed Charges


 

Year Ended December 31,

 

2008

2007

2006

 

(dollars in millions)

Earnings

 

 

 

Income before income taxes

$919.4 

$662.1 

$562.7 

Less Company’s share of earnings of

 

 

 

   equity investees

(1.7)

(8.9)

(7.5)

Plus distributions from equity investees

0.5 

10.4 

7.1 

Less net income attributable to noncontrolling interest

(9.0)

 

 

Plus interest expense

62.2 

35.6 

33.9 

Plus interest portion of rental expense

2.0 

1.5 

1.2 

Total

$973.4 

$700.7 

$597.4 

 

 

 

 

Fixed Charges

 

 

 

Interest expense

$  62.2 

$  35.6 

$  33.9 

Plus capitalized interest

4.9 

 

 

Plus interest portion of rental expense

2.0 

1.5 

1.2 

Total

$  69.1 

$  37.1 

$  35.1 

 

 

 

 

Ratio of Earnings to Fixed Charges

14.1 

18.9 

17.0 


For purposes of this presentation, earnings represent income before income taxes adjusted for fixed charges, earnings and distributions of equity investees, and net income attributable to noncontrolling interest. Fixed charges consist of total interest charges (expensed and capitalized), amortization of debt issuance costs, and the interest portion of rental expense estimated at 50%.