EXHIBIT 12.1
UGI UTILITIES INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of dollars)
Nine Months Ended June 30, 2006 | Year Ended September 30, | ||||||||||||||
2005 | 2004 | 2003 | 2002 | ||||||||||||
Earnings: | |||||||||||||||
Earnings before income taxes | $ | 80,863 | $ | 84,953 | $ | 83,098 | $ | 100,212 | $ | 73,665 | |||||
Interest expense | 16,138 | 18,079 | 17,698 | 17,412 | 16,365 | ||||||||||
Amortization of debt discount and expense | 162 | 247 | 233 | 244 | 287 | ||||||||||
Estimated interest component of rental expense | 1,238 | 1,568 | 1,477 | 1,434 | 1,563 | ||||||||||
$ | 98,401 | $ | 104,847 | $ | 102,506 | $ | 119,302 | $ | 91,880 | ||||||
Fixed Charges: | |||||||||||||||
Interest expense | $ | 16,138 | $ | 18,079 | $ | 17,698 | $ | 17,412 | $ | 16,365 | |||||
Amortization of debt discount and expense | 162 | 247 | 233 | 244 | 287 | ||||||||||
Allowance for funds used during construction (capitalized interest) | 70 | 22 | 11 | 7 | 19 | ||||||||||
Estimated interest component of rental expense | 1,238 | 1,568 | 1,477 | 1,434 | 1,563 | ||||||||||
$ | 17,608 | $ | 19,916 | $ | 19,419 | $ | 19,097 | $ | 18,234 | ||||||
Ratio of earnings to fixed charges | 5.59 | 5.26 | 5.28 | 6.25 | 5.04 | ||||||||||