Cascade Natural Gas 10-Q 2002 Q3 Quarterly report

QuickLinks -- Click here to rapidly navigate through this document

EXHIBIT 12

CASCADE NATURAL GAS CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDEND REQUIREMENTS

				Twelve Months Ended
				30-Jun-02		30-Sep-01	30-Sep-00	30-Sep-99	30-Sep-98	30-Sep-97
				(dollars in thousands)
Fixed charges, as defined:
	Interest expense			$	11,776	10,509	10,936	10,486	10,132	9,436
	Amortization of debt issuance expense				639	607	607	603	605	612
			Total fixed charges	$	12,415	11,116	11,543	11,089	10,737	10,048
Earnings, as defined:
	Net income			$	11,069	17,236	15,374	14,053	9,544	10,627
	Add (deduct):
		Income taxes			5,734	9,278	9,051	8,075	5,694	6,263
		Fixed charges			12,415	11,116	11,543	11,089	10,737	10,048
			Total earnings	$	29,218	37,630	35,968	33,217	25,975	26,938
Ratio of earnings to fixed charges					2.35	3.39	3.12	3.00	2.42	2.68
Fixed charges and preferred dividend requirements:
		Fixed charges		$	12,415	11,116	11,543	11,089	10,737	10,048
		Preferred dividend requirements			—	—	6	756	778	811
			Total	$	12,415	11,116	11,549	11,845	11,515	10,859
Ratio of earnings to fixed charges and preferred dividend requirements					2.35	3.39	3.12	2.80	2.26	2.48

QuickLinks

EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES