EXHIBIT (12)
NORTHWEST NATURAL GAS COMPANY
Computation of Ratio of Earnings to Fixed Charges
January 1, 1995 - December 31, 1999
($000)
Year Ended December 31
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1995 1996 1997 1998 1999
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Fixed Charges, as defined:
Interest on Long-Term Debt $23,141 $23,176 $24,904 $27,389 $27,728
Other Interest 2,252 3,448 4,500 4,909 2,778
Amortization of Debt Discount
and Expense 882 865 730 714 699
Interest Portion of Rentals 1,764 1,798 2,111 1,986 1,707
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Total Fixed Charges, as defined $28,039 $29,287 $32,245 $34,998 $32,912
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Earnings, as defined:
Net Income $38,065 $46,793 $43,059 $27,301 $45,296
Taxes on Income 22,120 27,347 21,034 14,604 24,591
Fixed Charges, as above 28,039 29,287 32,245 34,998 32,912
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Total Earnings, as defined $88,224 $103,427 $96,338 $76,903 $102,799
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Ratio of Earnings to Fixed Charges 3.15 3.53 2.99 2.20 3.12
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