NORTHWEST NATURAL GAS CO - FORM 10-K - EX-12 - EXHIBIT 12 RATIO OF EARNINGS TO FIXED CHARGES - February 27, 2017

Attached files

file	filename
EX-32.1 - EXHIBIT 32.1 SOX CERTIFICATION - NORTHWEST NATURAL GAS CO	ex3212016.htm
EX-31.2 - EXHIBIT 31.2 CFO CERTIFICATION - NORTHWEST NATURAL GAS CO	ex3122016.htm
EX-31.1 - EXHIBIT 31.1 CEO CERTIFICATION - NORTHWEST NATURAL GAS CO	ex3112016.htm
EX-23 - EXHIBIT 23 CONSENT OF AUDITORS - NORTHWEST NATURAL GAS CO	ex232016.htm
EX-21 - EXHIBIT 21 SUBSIDIARIES OF NW NATURAL GAS COMPANY - NORTHWEST NATURAL GAS CO	ex212016.htm
EX-10.PP - EXHIBIT 10.PP LTIP FOR NW NATURAL GAS STORAGE - NORTHWEST NATURAL GAS CO	a10ppltipfornwnaturalgasst.htm
EX-10.OO - EXHIBIT 10.OO ANNUAL INCENTIVE PLAN FOR NW NATURAL GAS STORAGE - NORTHWEST NATURAL GAS CO	a10ooannualincentiveplanfo.htm
EX-10.CC - EXHIBIT 10.CC AMENDMENT TO RSU AGREEMENT - NORTHWEST NATURAL GAS CO	a10ccamendmenttorsuagreeme.htm
EX-10.AA - EXHIBIT 10.AA FORM OF RSU AGREEMENT 2017 - NORTHWEST NATURAL GAS CO	rsuagreement2017.htm
EX-10.X - EXHIBIT 10.X FORM OF LTIP AWARD AGREEMENT 2017-2019 - NORTHWEST NATURAL GAS CO	a10xltipawardagreement2017.htm
EX-10.O - EXHIBIT 10.O EXECUTIVE ANNUAL INCENTIVE PLAN - NORTHWEST NATURAL GAS CO	a10oexecutiveannualincenti.htm
10-K - FORM 10-K - NORTHWEST NATURAL GAS CO	form10-k2016.htm

EXHIBIT 12

NORTHWEST NATURAL GAS COMPANY

Ratios of Earnings to Fixed Charges

^(Unaudited)



	Year Ended December 31,
In thousands, except share data	2016				2015				2014				2013				2012
Fixed Charges, as defined:
Interest on Long-Term Debt	$	34,508			$	37,918			$	40,066			$	40,825			$	39,175
Other Interest	3,404				3,173				2,718				2,709				2,314
Amortization of Debt Discount and Expense	1,671				1,760				1,963				1,877				1,848
Interest Portion of Rentals	2,048				1,976				2,302				1,910				1,864
Total Fixed Charges, as defined	41,631				44,827				47,049				47,321				45,201
Earnings, as defined:
Net Income	58,895				53,703				58,692				60,538				58,779
Taxes on Income	40,714				35,753				41,643				41,705				43,403
Fixed Charges, as above	41,631				44,827				47,049				47,321				45,201
Total Earnings, as defined	$	141,240			$	134,283			$	147,384			$	149,564			$	147,383
Ratios of Earnings to Fixed Charges	3.39				3.00				3.13				3.16				3.26