EX-12 4 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

 

GAS TRANSMISSION NORTHWEST CORPORATION

SEC FILING—FORM 10-Q—Third Quarter 2003

EXHIBIT 12—RATIO OF EARNINGS TO FIXED CHARGES

($ in millions)

 

     For the Nine months Ended
     September 30,
2003
    September 30,
2002

Ratio of Earnings to Fixed Charges

              

Earnings

              

Net income

    $ 40.2    $ 56.3

Adjustments:

              

Income taxes

      26.1      29.5

Fixed charges (as below)

      30.1      28.8
    
  

Total adjusted earnings

    $ 96.4    $ 114.6
    
  

Fixed charges:

              

Net interest expense

    $ 29.5    $ 25.9

Adjustments:

              

Interest component of rents

      0.3      0.3

AFUDC debt

      0.3      2.6
    
  

Total fixed charges

    $ 30.1    $ 28.8
    
  

Ratio of earnings to fixed charges

      3.2      4.0