EX-12 4 exhibit12.htm COMPUTATION OF RATIOS OF EARNINGS

Exhibit 12

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


For the Twelve Months Ended
Sep 30, December 31,
2004
2003
2002
2001
2000
1999
1. Fixed charges:                            
  A) Interest expense   $ 82,055   $ 78,724   $ 79,586   $ 80,139   $ 70,659   $ 63,110  
  B) Amortization    2,867    2,752    2,278    1,886    1,564    1,366  
  C) Interest portion of rentals    6,368    6,665    8,846    9,346    8,572    8,217  
  D) Preferred securities distributions    --    4,015    5,475    5,475    5,475    5,475  






    Total fixed charges   $ 91,290   $ 92,156   $ 96,185   $ 96,846   $ 86,270   $ 78,168  






2. Earnings (as defined):  
  E) Pretax income from  
    continuing operations   $ 73,208   $ 55,384   $ 65,382   $ 56,741   $ 51,939   $ 60,955  
  Fixed Charges (1. above)    91,290    92,156    96,185    96,846    86,270    78,168  






    Total earnings as defined   $ 164,498   $ 147,540   $ 161,567   $ 153,587   $ 138,209   $ 139,123  






     1.80    1.60    1.68    1.59    1.60    1.78