EXHIBIT 12
CASCADE NATURAL GAS CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDEND REQUIREMENTS
Twelve Months Ended
June 30 Year Ended December 31
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1994 1993 1993 1992 1991 1990 1989
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(dollars in thousands)
Fixed charges, as defined:
Interest expense 7,187 7,337 7,038 7,478 7,793 8,374 8,063
Amortization of debt issuance expense 579 506 562 402 362 373 370
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Total fixed charges 7,766 7,843 7,600 7,880 8,155 8,747 8,433
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Earnings, as defined:
Net earnings 6,711 8,063 9,103 4,843 7,651 8,376 8,482
Add (deduct):
Income taxes 3,946 4,698 5,224 2,817 4,206 4,547 5,178
Cumulative effect of change
in accounting method - (209) (209) - - - -
Fixed charges 7,766 7,843 7,600 7,880 8,155 8,747 8,433
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Total earnings 18,423 20,395 21,718 15,540 20,012 21,670 22,093
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Ratio of earnings to fixed charges 2.37 2.60 2.86 1.97 2.45 2.48 2.62
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Fixed charges and preferred
dividend requirements:
Fixed charges 7,766 7,843 7,600 7,880 8,155 8,747 8,433
Preferred dividend requirements 902 934 913 941 229 238 287
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Total 8,668 8,777 8,513 8,821 8,384 8,985 8,720
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Ratio of earnings to fixed charges
and preferred dividend requirements 2.13 2.32 2.55 1.76 2.39 2.41 2.53
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