EXHIBIT 12 | ||||||||||||||||||||||||||||||
NORTHWEST NATURAL GAS COMPANY | ||||||||||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||||||||
Thousands, except per share amount | ||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||
12 Months | Nine Months(1) | |||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||
Year Ended December 31, | September 30, | September 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 | $ | 37,401 | $ | 27,751 | ||||||||||||||||
Other Interest | 1,587 | 1,937 | 4,022 | 4,116 | 4,648 | 1,775 | 1,221 | |||||||||||||||||||||||
Amortization of Debt Discount and Expense | 1,766 | 1,503 | 700 | 711 | 716 | 1,724 | 1,288 | |||||||||||||||||||||||
Interest Portion of Rentals | 2,130 | 1,735 | 1,551 | 1,523 | 1,465 | 2,187 | 1,267 | |||||||||||||||||||||||
Total Fixed Charges, as defined | $ | 44,681 | $ | 42,622 | $ | 39,878 | $ | 40,644 | $ | 41,480 | $ | 43,087 | $ | 31,527 | ||||||||||||||||
Earnings, as defined: | ||||||||||||||||||||||||||||||
Net Income | $ | 72,667 | $ | 75,122 | $ | 69,525 | $ | 74,497 | $ | 63,415 | $ | 64,245 | $ | 34,654 | ||||||||||||||||
Taxes on Income | 49,462 | 46,671 | 40,678 | 44,060 | 36,234 | 43,813 | 23,470 | |||||||||||||||||||||||
Fixed Charges, as above | 44,681 | 42,622 | 39,878 | 40,644 | 41,480 | 43,087 | 31,527 | |||||||||||||||||||||||
Total Earnings, as defined | $ | 166,810 | $ | 164,415 | $ | 150,081 | $ | 159,201 | $ | 141,129 | $ | 151,145 | $ | 89,651 | ||||||||||||||||
Ratio of Earnings to Fixed Charges | 3.73 | 3.86 | 3.76 | 3.92 | 3.40 | 3.51 | 2.84 | |||||||||||||||||||||||
(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: 4 Nov 11, 12:00am