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Exhibit 12.1

Questar Corporation
Ratio of Earnings to Fixed Charges

 
12 Months Ended December 31,
 
2014
 
2013
 
2012
 
(dollars in millions)
Earnings
 
 
 
 
 
Pretax income from continuing operations before
  adjustment for income or loss from equity investees
$
348.9

 
$
258.8

 
$
324.8

Add (deduct):
—

 
 
 
 
Fixed charges
65.1

 
58.8

 
60.2

Distributed income from equity investees - continuing operations
4.4

 
4.6

 
4.5

Capitalized interest - continuing operations
(1.0
)
 
(0.8
)
 
(0.2
)
Total Earnings
$
417.4

 
$
321.4

 
$
389.3

 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
Interest expense - continuing operations
$
63.1

 
$
56.9

 
$
57.9

Capitalized interest - continuing operations
1.0

 
0.8

 
0.2

Estimate of interest within rental expense - continuing operations
1.0

 
1.1

 
2.1

Total Fixed Charges
$
65.1

 
$
58.8

 
$
60.2

 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
6.4

 
5.5

 
6.5


For purposes of this presentation, earnings represent income from continuing operations before income taxes adjusted for fixed charges, earnings and distributions of equity investees. Income from continuing operations before income taxes includes Questar’s share of pretax earnings of equity investees. Fixed charges for both continuing operations and discontinued operations 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%.