EXHIBIT 12 | ||||||||||||||||||||||||||||
NORTHWEST NATURAL GAS COMPANY | ||||||||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||||||
Thousands, except per share amount | ||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||
12 Months | Six Months(1) | |||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||
Year Ended December 31, | June 30, | June 30, | ||||||||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | 2011 | 2011 | ||||||||||||||||||||||
Fixed Charges, as defined: | ||||||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 39,198 | $ | 37,447 | $ | 33,605 | $ | 34,294 | $ | 34,651 | $ | 38,060 | $ | 18,555 | ||||||||||||||
Other Interest | 1,587 | 1,937 | 4,022 | 4,116 | 4,648 | 1,790 | 841 | |||||||||||||||||||||
Amortization of Debt Discount and Expense | 1,766 | 1,503 | 700 | 711 | 716 | 1,735 | 856 | |||||||||||||||||||||
Interest Portion of Rentals | 2,130 | 1,735 | 1,551 | 1,523 | 1,465 | 2,383 | 1,080 | |||||||||||||||||||||
Total Fixed Charges, as defined | $ | 44,681 | $ | 42,622 | $ | 39,878 | $ | 40,644 | $ | 41,480 | $ | 43,968 | $ | 21,332 | ||||||||||||||
Earnings, as defined: | ||||||||||||||||||||||||||||
Net Income | $ | 72,667 | $ | 75,122 | $ | 69,525 | $ | 74,497 | $ | 63,415 | $ | 65,137 | $ | 42,966 | ||||||||||||||
Taxes on Income | 49,462 | 46,671 | 40,678 | 44,060 | 36,234 | 44,270 | 29,170 | |||||||||||||||||||||
Fixed Charges, as above | 44,681 | 42,622 | 39,878 | 40,644 | 41,480 | 43,968 | 21,332 | |||||||||||||||||||||
Total Earnings, as defined | $ | 166,810 | $ | 164,415 | $ | 150,081 | $ | 159,201 | $ | 141,129 | $ | 153,375 | $ | 93,468 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 3.73 | 3.86 | 3.76 | 3.92 | 3.40 | 3.49 | 4.38 | |||||||||||||||||||||
(1) | A significant part of the business of NW Natural is of a seasonal nature; therefore, the ratios of earnings to fixed charges for the interim periods are not necessarily indicative of the results for a full year. |
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10-Q Filing
Northwest Natural Holding 10-Q2011 FY Quarterly report
Filed: 3 Aug 11, 12:00am