EX-12 7 exhibit12.txt COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES
EXHIBIT (12) NORTHWEST NATURAL GAS COMPANY Computation of Ratio of Earnings to Fixed Charges January 1, 1997 - December 31, 2001 (Thousands, except ratio amounts) (Unaudited) Year Ended December 31 -------------------------------------------------------------------------------------- 1997 1998 1999 2000 2001 ---------- ----------- ----------- ---------- --------- Fixed Charges, as Defined: Interest on Long-Term Debt $ 24,904 $ 27,389 $ 27,728 $ 29,987 $ 30,224 Other Interest 4,500 4,909 2,778 3,628 3,772 Amortization of Debt Discount and Expense 730 714 699 735 768 Interest Portion of Rentals 2,111 1,986 1,707 1,628 1,572 ---------- ----------- ----------- ---------- --------- Total Fixed Charges, as defined $ 32,245 $ 34,998 $ 32,912 $ 35,978 $ 36,336 ========== =========== =========== ========== ========= Earnings, as Defined: Net Income $ 43,059 $ 27,301 $ 45,296 $ 50,224 $ 50,187 Taxes on Income 21,034 14,604 24,591 26,829 27,553 Fixed Charges, as above 32,245 34,998 32,912 35,978 36,336 ---------- ----------- ----------- ---------- --------- Total Earnings, as defined $ 96,338 $ 76,903 $ 102,799 $ 113,031 $ 114,076 ========== =========== =========== ========== ========= Ratio of Earnings to Fixed Charges 2.99 2.20 3.12 3.14 3.14 =========== =========== =========== ========== =========