EXHIBIT 12
Northwest Natural Gas Company
Computation of Ratio of Earnings to Fixed Charges
January 1, 1991 - June 30, 1996
($000)
Months
-----------Year Ended December 31------------ Ended
June 30,
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 $23,344
Other Interest 4,266 3,223 1,906 2,473 2,252 1,935
Amortization of Debt
Discount and Expense 348 511 775 850 882 895
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 $27,938
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Earnings, as defined:
Net Income $14,377 $15,775 $37,647 $35,461 $38,065 $44,368
Taxes on Income 2,321 6,951 22,096 20,473 22,120 26,597
Fixed Charges, as above 28,076 28,174 26,960 26,941 28,039 27,938
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Total Earnings, as defined $44,774 $50,900 $86,703 $82,875 $88,224 $98,903
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Ratio of Earnings to
Fixed Charges 1.59 1.81 3.22 3.08 3.15 3.54
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