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Content analysis
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8th grade Avg
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Exhibit 12.
Questar Corporation
Ratio of Earnings to Fixed Charges
| Year Ended December 31, | |||
| 2008 | 2007 | 2006 | |
| (dollars in millions) | |||
Earnings |
|
|
| |
Income before income taxes | $1,061.8 | $798.0 | $699.6 | |
Less company’s share of earnings of |
|
|
| |
equity investees | (2.3) | (8.9) | (7.5) | |
Plus distributions from equity investees | 0.5 | 10.4 | 7.1 | |
Plus interest expense | 119.5 | 72.2 | 73.6 | |
Plus capitalized interest | 6.1 | 8.0 | 0.8 | |
Plus interest portion of rental expense | 4.7 | 3.7 | 3.1 | |
| $1,190.3 | $883.4 | $776.7 | |
|
|
|
| |
Fixed Charges |
|
|
| |
Interest expense | $ 119.5 | $ 72.2 | $ 73.6 | |
Plus capitalized interest | 6.1 | 8.0 | 0.8 | |
Plus interest portion of rental expense | 4.7 | 3.7 | 3.1 | |
| $ 130.3 | $ 83.9 | $ 77.5 | |
|
|
|
| |
Ratio of Earnings to Fixed Charges | 9.1 | 10.5 | 10.0 |
For purposes of this presentation, earnings represent income before income taxes adjusted for fixed charges, earnings and distributions of equity investees. Income before income taxes includes Questar’s share of pretax earnings of equity investees. Fixed charges consist of total interest charges (expensed and capitalized), amortization of debt issuance costs and losses from reacquired debt, and the interest portion of rental expense estimated at 50%.