EX-12 3 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Prepared by R.R. Donnelley Financial -- Computation of Ratio of Earnings to Fixed Charges
 
EXHIBIT 12
PG&E GAS TRANSMISSION, NORTHWEST CORPORATION
SEC FILING - FORM 10-Q - First Quarter 2002
EXHIBIT 12 - RATIO OF EARNINGS TO FIXED CHARGES
 
    
For the Three Months Ended
Ratio of earnings to Fixed Charges
   
2002
   
2001
Earnings
          
Net income
   
16.8
   
19.5
Adjustments:
         
Income taxes
   
10.1
   
12.5
Fixed charges (as below)
   
9.1
   
10.2
    
  
Total adjusted earnings
   
36.0
   
42.2
    
  
           
Fixed charges:
          
Net interest expense
   
8.3
   
10.1
Adjustments:
         
Interest component of rents
   
0.1
   
0.1
AFUDC debt
   
0.7
   
0.0
    
  
Total fixed charges
   
9.1
   
10.2
    
  
Ratio of earnings to fixed charges
   
4.0
   
4.1