WGL (WGL) 10-K 2001 FY Annual report

EXHIBIT 12.0

WGL HOLDINGS, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

Years Ended September 30,
(Dollars in Thousands)

		2001			2000			1999		1998		1997
FIXED CHARGES:
Interest Expense		$	49,838		$	43,535		$	37,437	$	37,473	$	33,599
Amortization of Debt Premium, Discount and Expense			260			346			566		370		299
Interest Component of Rentals			12			12			12		12		17
	Total Fixed Charges	$	50,110		$	43,893		$	38,015	$	37,855	$	33,915
EARNINGS:
Net Income before Dividends on Preferred Stock		$	83,765		$	84,574		$	68,768	$	68,629	$	82,019
Add:
	Income Taxes Applicable to Utility Operating Income		59,009			47,821			38,689		38,022		47,864
	Income Taxes Applicable to Non-Utility Operating Income and
	Other Income (Expenses)-Net		(1,993	)		(153	)		2,887		1,784		577
	Total Fixed Charges		50,110			43,893			38,015		37,855		33,915
	Total Earnings	$	190,891		$	176,135		$	148,359	$	146,290	$	164,375
Ratio of Earnings to Fixed Charges			3.8			4.0			3.9		3.9		4.8