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)
Year Ended September 30, | ||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Earnings before income taxes | $ | 122,766 | $ | 80,544 | $ | 84,953 | $ | 83,098 | $ | 100,212 | ||||||||||
Interest expense | 42,327 | 24,102 | 18,079 | 17,698 | 17,412 | |||||||||||||||
Amortization of debt discount and expense | 462 | 243 | 247 | 233 | 244 | |||||||||||||||
Estimated interest component of rental expense | 1,506 | 1,675 | 1,568 | 1,477 | 1,434 | |||||||||||||||
$ | 167,061 | $ | 106,564 | $ | 104,847 | $ | 102,506 | $ | 119,302 | |||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 42,327 | $ | 24,102 | $ | 18,079 | $ | 17,698 | $ | 17,412 | ||||||||||
Amortization of debt discount and expense | 462 | 243 | 247 | 233 | 244 | |||||||||||||||
Allowance for funds used during construction (capitalized interest) | 179 | 85 | 22 | 11 | 7 | |||||||||||||||
Estimated interest component of rental expense | 1,506 | 1,675 | 1,568 | 1,477 | 1,434 | |||||||||||||||
$ | 44,474 | $ | 26,105 | $ | 19,916 | $ | 19,419 | $ | 19,097 | |||||||||||
Ratio of earnings to fixed charges | 3.76 | 4.08 | 5.26 | 5.28 | 6.25 | |||||||||||||||