EXHIBIT 12
Northwest Natural Gas Company
Computation of Ratio of Earnings to Fixed Charges
January 1, 1991 - March 31, 1996
($000)
Twelve
Months
Ended
---------Year Ended December 31--------- March 31,
1991 1992 1993 1994 1995 1996
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Fixed Charges, as defined:
Interest on Long-
Term Debt $21,977 $23,001 $22,578 $21,921 $23,141 $23,278
Other Interest 4,266 3,223 1,906 2,473 2,252 2,089
Amortization of Debt
Discount and Expense 348 511 775 850 882 884
Interest Portion of
Rentals 1,485 1,439 1,701 1,697 1,764 1,764
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Total Fixed Charges,
as defined $28,076 $28,174 $26,960 $26,941 $28,039 $28,015
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Earnings, as defined:
Net Income $14,377 $15,775 $37,647 $35,461 $38,065 $42,369
Taxes on Income 2,321 6,951 22,096 20,473 22,120 25,482
Fixed Charges, as above 28,076 28,174 26,960 26,941 28,039 28,015
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Total Earnings,
as defined $44,774 $50,900 $86,703 $82,875 $88,224 $95,866
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Ratio of Earnings to
Fixed Charges 1.59 1.81 3.22 3.08 3.15 3.42
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