EXHIBIT 12
CASCADE NATURAL GAS CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDEND REQUIREMENTS
Twelve Months Ended
September 30 Year Ended December 31
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1995 1994 1994 1993 1992 1991 1990
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(dollars in thousands)
Fixed charges, as defined:
Interest expense $9,423 7,540 8,090 7,038 7,478 7,793 8,374
Amortization of debt issuance expense 604 586 593 562 402 362 373
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Total fixed charges 10,027 8,126 8,683 7,600 7,880 8,155 8,747
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Earnings, as defined:
Net earnings 7,087 6,351 5,760 9,103 4,843 7,651 8,376
Add (deduct):
Income taxes 4,590 3,452 3,505 5,224 2,817 4,206 4,547
Cumulative effect of change
in accounting method - - - (209) - - -
Fixed charges 10,027 8,126 8,683 7,600 7,880 8,155 8,747
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Total earnings $21,704 17,929 17,948 21,718 15,540 20,012 21,670
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Ratio of earnings to fixed charges 2.16 2.21 2.07 2.86 1.97 2.45 2.48
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Fixed charges and preferred
dividend requirements:
Fixed charges $10,027 8,126 8,683 7,600 7,880 8,155 8,747
Preferred dividend requirements 896 867 898 913 941 229 238
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Total $10,923 8,993 9,581 8,513 8,821 8,384 8,985
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Ratio of earnings to fixed charges
and preferred dividend requirements 1.99 1.99 1.87 2.55 1.76 2.39 2.41
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