EX-12.1 2 exhibit121earningstofixedc.htm EARNINGS TO FIXED CHARGES Exhibit 12.1 Earnings to Fixed Charges 2012


Exhibit 12.1

NorthWestern Corporation
Computation of Ratio of Consolidated Earning to Consolidated Fixed Charges
 
Year ended December 31,
 
2012
 
2011
 
2010
 
2009
 
2008
 
(in thousands, except ratios)
Earnings
 
 
 
 
 
 
 
 
 
Income before income taxes
$
116,495

 
$
102,621

 
$
103,136

 
$
88,724

 
$
107,822

Add: Fixed changes as below
68,878

 
68,852

 
70,946

 
69,406

 
64,937

Total
$
185,373

 
$
171,473

 
$
174,082

 
$
158,130

 
$
149,106

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest charges
$
65,062

 
$
66,859

 
$
65,826

 
$
67,760

 
$
63,952

Interest on rent expense
732

 
746

 
670

 
608

 
687

Capitalized interest and allowance for funds used during construction
3,084

 
1,247

 
4,450

 
1,038

 
298

Total
$
68,878

 
$
68,852

 
$
70,946

 
$
69,406

 
$
63,527

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.69

 
2.49

 
2.45
 
2.28
 
2.66