EX-12 4 ratio.htm COMPUTATION OF RATIOS EXHIBIT 12

EXHIBIT 12.1

SOUTHWEST GAS CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Thousands of dollars)


  For the Twelve Months Ended
  March 31,   December 31,
  2002   2001   2000   1999   1998   1997  
   
 
 
 
 
 
 
  1. Fixed charges:                                    
      A) Interest expense $ 78,933   $ 80,139   $ 70,659   $ 63,110   $ 63,416   $ 63,247  
      B) Amortization   1,950     1,886     1,564     1,366     1,243     1,164  
      C) Interest portion of rentals   9,490     9,346     8,572     8,217     7,531     6,973  
      D) Preferred securities distributions   5,475     5,475     5,475     5,475     5,475     5,475  
   
 
 
 
 
 
 
           Total fixed charges $ 95,848   $ 96,846   $ 86,270   $ 78,168   $ 77,665   $ 76,859  
   
 
 
 
 
 
 
  2. Earnings (as defined):                                    
      E) Pretax income from                                    
           continuing operations $ 71,958   $ 56,741   $ 51,939   $ 60,955   $ 83,951   $ 21,328  
      Fixed Charges (1. above)   95,848     96,846     86,270     78,168     77,665     76,859  
   
 
 
 
 
 
 
           Total earnings as defined $ 167,806   $ 153,587   $ 138,209   $ 139,123   $ 161,616   $ 98,187  
   
 
 
 
 
 
 
      1.75     1.59     1.60     1.78     2.08     1.28