EX-12 2 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

GAS TRANSMISSION NORTHWEST CORPORATION

EXHIBIT 12 - RATIO OF EARNINGS TO FIXED CHARGES

($ in millions)

 

     For the Three Months Ended

Ratio of Earnings to Fixed Charges

    March 31,
2004
    March 31,
2003

Earnings

              

Net income

    $ 16.3    $ 16.4

Adjustments:

              

Income taxes

      10.3      10.5

Fixed charges (as below)

      9.7      10.1
    
  

Total adjusted earnings

    $ 36.3    $ 37.0
    
  

Fixed charges:

              

Net interest expense

    $ 9.5    $ 9.9

Adjustments:

              

Interest component of rents

      0.1      0.1

AFUDC debt

      0.1      0.1
    
  

Total fixed charges

    $ 9.7    $ 10.1
    
  

Ratio of earnings to fixed charges

      3.7      3.7