EX-12.1 5 d39009exv12w1.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

Exhibit 12.1
Northwest Pipeline Corporation Computation of Ratio of Earnings to Fixed Charges
(Dollars in Millions)
                                                         
                                            For the     For the  
                                            Six Months     Six Months  
                                            Ended     Ended  
    For the Year Ended December 31,     June 30,     June 30,  
    2001     2002     2003     2004     2005     2005     2006  
Earnings:
                                                       
Income before income taxes
  $ 107,173     $ 129,381     $ 117,812     $ 123,434     $ 111,949     $ 57,045     $ 52,285  
Add:
                                                       
Interest on long-term debt
    25,670       25,577       37,144       38,721       38,164       19,223       19,189  
Other interest expense
    5,302       2,688       3,388       3,368       3,389       1,715       1,913  
Rental expense representative of interest factor
    2,020       1,783       1,350       1,002       854       446       367  
 
                                         
 
                                                       
Total earnings, as adjusted, plus fixed charges
  $ 140,165     $ 159,429     $ 159,694     $ 166,525     $ 154,356     $ 78,429     $ 73,754  
 
                                         
 
                                                       
Fixed Charges:
                                                       
Interest expense on long-term debt
  $ 25,670     $ 25,577     $ 37,144     $ 38,721     $ 38,164     $ 19,223     $ 19,189  
Other interest expense
    5,302       2,688       3,388       3,368       3,389       1,715       1,913  
Rental expense representative of interest factor
    2,020       1,783       1,350       1,002       854       446       367  
 
                                         
 
                                                       
Total fixed charges
  $ 32,992     $ 30,048     $ 41,882     $ 43,091     $ 42,407     $ 21,384     $ 21,469  
 
                                         
 
                                                       
Ratio of earnings to fixed charges
    4.25       5.31       3.81       3.86       3.64       3.67       3.44  
 
                                         
For the purposes of this ratio (i) earnings consist of income before fixed charges and income taxes for the Company, and (ii) fixed charges consist of interest and debt expense on all indebtedness (without reduction for interest capitalized) and that portion of rental payments on operating leases estimated to represent an interest factor for the Company.