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)
| Six | ||||||||||||||||||||||||
| Months | ||||||||||||||||||||||||
| Ended | ||||||||||||||||||||||||
| March 31, | Year Ended September 30, | |||||||||||||||||||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
| Earnings before income taxes | $ | 119,277 | $ | 122,766 | $ | 80,544 | $ | 84,953 | $ | 83,098 | $ | 100,212 | ||||||||||||
| Interest expense | 20,769 | 42,327 | 24,102 | 18,079 | 17,698 | 17,412 | ||||||||||||||||||
| Amortization of debt discount and expense | 232 | 462 | 243 | 247 | 233 | 244 | ||||||||||||||||||
| Estimated interest component of rental expense | 826 | 1,506 | 1,675 | 1,568 | 1,477 | 1,434 | ||||||||||||||||||
| $ | 141,104 | $ | 167,061 | $ | 106,564 | $ | 104,847 | $ | 102,506 | $ | 119,302 | |||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
| Interest expense | $ | 20,769 | $ | 42,327 | $ | 24,102 | $ | 18,079 | $ | 17,698 | $ | 17,412 | ||||||||||||
| Amortization of debt discount and expense | 232 | 462 | 243 | 247 | 233 | 244 | ||||||||||||||||||
| Allowance for funds used during construction (capitalized interest) | 81 | 179 | 85 | 22 | 11 | 7 | ||||||||||||||||||
| Estimated interest component of rental expense | 826 | 1,506 | 1,675 | 1,568 | 1,477 | 1,434 | ||||||||||||||||||
| $ | 21,908 | $ | 44,474 | $ | 26,105 | $ | 19,916 | $ | 19,419 | $ | 19,097 | |||||||||||||
| Ratio of earnings to fixed charges | 6.44 | 3.76 | 4.08 | 5.26 | 5.28 | 6.25 | ||||||||||||||||||