Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - NORTHWEST NATURAL GAS CO | form10-q.htm |
| EX-32.1 - CEO & CFO CERTIFICATION - NORTHWEST NATURAL GAS CO | ex32.htm |
| EX-31.1 - CEO CERTIFICATION - NORTHWEST NATURAL GAS CO | ex31-1.htm |
| EX-31.2 - CFO CERTIFICATION - NORTHWEST NATURAL GAS CO | ex31-2.htm |
EXHIBIT 12
NORTHWEST NATURAL GAS COMPANY
Computation of Ratio of Earnings to Fixed Charges
January 1, 2004 – September 30, 2009
(Thousands, except ratio of earnings to fixed charges)
(Unaudited)
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12 Months |
Nine Months(1) |
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Ended |
Ended |
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Year Ended December 31, |
Sept. 30, |
Sept. 30, |
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2008 |
2007 |
2006 |
2005 |
2004 |
2009 |
2009 |
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Fixed Charges, as defined: |
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Interest on Long-Term Debt |
$ | 33,605 | $ | 34,294 | $ | 34,651 | $ | 34,330 | $ | 33,776 | $ | 35,947 | $ | 27,593 | ||||||||||||||
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Other Interest |
4,022 | 4,116 | 4,648 | 2,665 | 2,184 | 3,082 | 1,533 | |||||||||||||||||||||
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Amortization of Debt |
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Discount and Expense |
700 | 711 | 716 | 808 | 773 | 1,235 | 1,060 | |||||||||||||||||||||
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Interest Portion of Rentals |
1,551 | 1,523 | 1,465 | 1,357 | 1,489 | 1,708 | 1,320 | |||||||||||||||||||||
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Total Fixed Charges, as defined |
$ | 39,878 | $ | 40,644 | $ | 41,480 | $ | 39,160 | $ | 38,222 | $ | 41,972 | $ | 31,506 | ||||||||||||||
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Earnings, as defined: |
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Net Income |
$ | 69,525 | $ | 74,497 | $ | 63,415 | $ | 58,149 | $ | 50,572 | $ | 76,896 | $ | 43,716 | ||||||||||||||
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Taxes on Income |
40,678 | 44,060 | 36,234 | 32,720 | 26,531 | 46,327 | 26,848 | |||||||||||||||||||||
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Fixed Charges, as above |
39,878 | 40,644 | 41,480 | 39,160 | 38,222 | 41,972 | 31,506 | |||||||||||||||||||||
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Total Earnings, as defined |
$ | 150,081 | $ | 159,201 | $ | 141,129 | $ | 130,029 | $ | 115,325 | $ | 165,195 | $ | 102,070 | ||||||||||||||
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Ratio of Earnings to Fixed Charges |
3.76 | 3.92 | 3.40 | 3.32 | 3.02 | 3.94 | 3.24 | |||||||||||||||||||||
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(1) |
A significant part of the business of NW Natural is of a seasonal nature; therefore, the ratios of earnings to fixed charges for the interim periods are not necessarily indicative of the results for a full year. |