EX-12 5 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings To Fixed Charges

 

Exhibit 12

 

Consolidated Natural Gas Company

Computation of Ratio of Earnings to Fixed Charges

(millions of dollars)

 

    

Years Ended

  
    

2002

     

2001

     

2000

   

1999

     

1998

  

Earnings, as defined:

                                           

Earnings before income taxes and minority interests in consolidated subsidiaries

   

$

950.4

 

   

$

604.0

 

   

$

360.4

   

$

210.3

 

   

$

417.4

 

Distributed income from unconsolidated investees, less equity in earnings

   

 

(15.7

)

   

 

(5.8

)

   

 

13.1

   

 

(12.4

)

   

 

(1.9

)

Fixed charges included in the determination of net income

   

 

167.9

 

   

 

170.2

 

   

 

184.1

   

 

148.6

 

   

 

137.0

 

    
  
  
  
  

Total earnings, as defined

   

$

1,102.6

 

   

$

768.4

 

   

$

557.6

   

$

346.5

 

   

$

552.5

 

    
  
  
  
  

Fixed charges, as defined:

                                           

Interest charges

   

$

227.4

 

   

$

181.1

 

   

$

172.8

   

$

136.9

 

   

$

126.4

 

Rental interest factor

   

 

10.5

 

   

 

11.1

 

   

 

11.3

   

 

11.7

 

   

 

10.6

 

    
  
  
  
  

Total fixed charges, as defined

   

$

237.9

 

   

$

192.2

 

   

$

184.1

   

$

148.6

 

   

$

137.0

 

    
  
  
  
  

Ratio of Earnings to Fixed Charges

   

 

4.63

 

   

 

4.00

 

   

 

3.03

   

 

2.33

 

   

 

4.03