EX-12 2 exhibit121earningstofixedc.htm EXHIBIT 12.1 EARNINGS TO FIXED CHARGES 2016 Exhibit


Exhibit 12.1

NorthWestern Corporation
Computation of Ratio of Consolidated Earning to Consolidated Fixed Charges
 
Year ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
 
 
 
 
 
(in thousands, except ratios)
Earnings
 
 
 
 
 
 
 
 
 
Income before income taxes
$
156,525

 
$
181,246

 
$
110,414

 
$
108,284

 
$
116,495

Add: Fixed changes as below
98,028

 
97,806

 
82,793

 
74,280

 
68,878

Total
$
254,553

 
$
279,052

 
$
193,207

 
$
182,564

 
$
185,373

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest charges
$
94,970

 
$
92,153

 
$
77,802

 
$
70,486

 
$
65,062

Interest on rent expense
614

 
779

 
731

 
672

 
732

Capitalized interest and allowance for funds used during construction
2,444

 
4,874

 
4,260

 
3,122

 
3,084

Total
$
98,028

 
$
97,806

 
$
82,793

 
$
74,280

 
$
68,878

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.6

 
2.9

 
2.3

 
2.5

 
2.7