EX-12 2 dex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES PG&E GAS TRANSMISSION, NORTHWEST CORPORATION SEC FILING - FORM 10-K - Year End 2000 EXHIBIT 12 - RATIO OF EARNINGS TO FIXED CHARGES
Ratio of earnings to Fixed Charges 2000 1999 1998 1997 1996 ---------------------------------- ------------ ------------- ------------ ------------ ------------- Earnings Income from Continuing Operations $ 58.4 $ 61.5 $ 60.3 $ 42.1 $ 43.5 Adjustments: Income taxes 37.4 37.6 35.7 24.8 28.8 Fixed charges (as below) 40.9 42.8 44.1 46.7 46.3 ------------ ------------- ------------ ------------ ------------- Total adjusted earnings $ 136.7 $ 141.9 $ 140.1 $ 113.6 $ 118.6 ============ ============= ============ ============ ============= Fixed charges: Net interest expense $ 40.4 $ 41.7 $ 43.0 $ 46.0 $ 45.7 Adjustments: Interest component of rents 0.1 0.0 0.1 0.4 0.3 AFUDC debt 0.4 1.1 1.0 0.3 0.3 ------------ ------------- ------------ ------------ ------------- Total fixed charges $ 40.9 $ 42.8 $ 44.1 $ 46.7 $ 46.3 ============ ============= ============ ============ ============= ------------ ------------- ------------ ------------ ------------- Ratio of earnings to fixed charges 3.3% 3.3% 3.2% 2.4% 2.6% ============ ============= ============ ============ =============