EX-12 3 exhibit12.htm COMPUTATION OF RATIOS COMPUTATION OF RATIOS

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


For the Twelve Months Ended
Jun 30, December 31,
2003
 2002
 2001
 2000
 1999
 1998
1. Fixed charges:                            
  A) Interest expense   $ 79,014   $ 79,586   $ 80,139   $ 70,659   $ 63,110   $ 63,416  
  B) Amortization    2,440    2,278    1,886    1,564    1,366    1,243  
  C) Interest portion of rentals    7,924    8,846    9,346    8,572    8,217    7,531  
  D) Preferred securities distributions    5,475    5,475    5,475    5,475    5,475    5,475  
    Total fixed charges   $ 94,853   $ 96,185   $ 96,846   $ 86,270   $ 78,168   $ 77,665  
2. Earnings (as defined):  
  E) Pretax income from  
    continuing operations   $ 61,928   $ 65,382   $ 56,741   $ 51,939   $ 60,955   $ 83,951  
  Fixed Charges (1. above)    94,853    96,185    96,846    86,270    78,168    77,665  
    Total earnings as defined   $ 156,781   $ 161,567   $ 153,587   $ 138,209   $ 139,123   $ 161,616  
     1.65    1.68    1.59    1.60    1.78    2.08