UGI UTILITIES INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES — EXHIBIT 12.1
(Thousands of dollars)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES — EXHIBIT 12.1
(Thousands of dollars)
| Nine | ||||||||||||||||||||||||
| Months | ||||||||||||||||||||||||
| Ended | ||||||||||||||||||||||||
| June 30, | Year Ended September 30, | |||||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
| Earnings before income taxes | $ | 170,515 | $ | 147,183 | $ | 125,554 | $ | 123,977 | $ | 122,766 | $ | 80,544 | ||||||||||||
| Interest expense | 31,960 | 42,336 | 43,918 | 39,065 | 42,327 | 24,102 | ||||||||||||||||||
| Amortization of debt discount and expense | 831 | 627 | 625 | 467 | 462 | 243 | ||||||||||||||||||
| Estimated interest component of rental expense | 1,421 | 1,912 | 1,965 | 1,619 | 1,506 | 1,675 | ||||||||||||||||||
| $ | 204,727 | $ | 192,058 | $ | 172,062 | $ | 165,128 | $ | 167,061 | $ | 106,564 | |||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
| Interest expense | $ | 31,960 | $ | 42,336 | $ | 43,918 | $ | 39,065 | $ | 42,327 | $ | 24,102 | ||||||||||||
| Amortization of debt discount and expense | 831 | 627 | 625 | 467 | 462 | 243 | ||||||||||||||||||
| Allowance for funds used during construction (capitalized interest) | 78 | 74 | 160 | 139 | 179 | 85 | ||||||||||||||||||
| Estimated interest component of rental expense | 1,421 | 1,912 | 1,965 | 1,619 | 1,506 | 1,675 | ||||||||||||||||||
| $ | 34,290 | $ | 44,949 | $ | 46,668 | $ | 41,290 | $ | 44,474 | $ | 26,105 | |||||||||||||
| Ratio of earnings to fixed charges | 5.97 | 4.27 | 3.69 | 4.00 | 3.76 | 4.08 | ||||||||||||||||||