EX-12 2 str10k4q2009ex12.htm EXHIBIT 12. Exhibit 12



Exhibit 12.


Questar Corporation

Ratio of Earnings to Fixed Charges


 

Year Ended December 31,

 

2009

2008

2007

 

(dollars in millions)

Earnings

 

 

 

Pre-tax income from continuing operations before

  Adjustment for income or loss from equity investees

$611.4 

$1,068.5 

$789.1 

Add (deduct):

 

 

 

  Fixed charges

135.9 

130.3 

83.9 

  Distributed income from equity investees

4.4 

0.5 

10.4 

  Capitalized interest

(1.2)

(6.1)

(8.0)

  Noncontrolling interest in pre-tax income of

    Subsidiaries that have not incurred fixed charges

(2.6)

(9.0)

 

 

$747.9 

$1,184.2 

$875.4 

 

 

 

 

Fixed Charges

 

 

 

Interest expense

$128.7 

$  119.5 

$  72.2 

Capitalized interest

1.2 

6.1 

8.0 

Estimate of the interest within rental expense

6.0 

4.7 

3.7 

 

$135.9 

$  130.3 

$  83.9 

 

 

 

 

Ratio of Earnings to Fixed Charges

5.5 

9.1 

10.4 


For purposes of this presentation, earnings represent income before income taxes adjusted for fixed charges, earnings and distributions of equity investees. Income before income taxes includes Questar’s share of pretax earnings of equity investees. Fixed charges consist of total interest charges (expensed and capitalized), amortization of debt issuance costs and losses from reacquired debt, and the interest portion of rental expense estimated at 50%.