WGL (WGL) 10-Q 2003 Q3 Quarterly report

Exhibit 12.4

WASHINGTON GAS LIGHT COMPANY
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividends
Twelve Months Ended June 30, 2003
(Dollars in Thousands)
(Unaudited)

PRE-TAX PREFERRED STOCK DIVIDENDS:
Preferred Dividends			$	1,320
Effective Income Tax Rate				0.3707
Complement of Effective Income Tax Rate (1-Tax Rate)				0.6293
Pre-Tax Preferred Dividends			$	2,098
FIXED CHARGES:
Interest Expense			$	44,233
Amortization of Debt Premium, Discount and Expense				847
Interest Component of Rentals				12
Total Fixed Charges				45,092
Pre-tax Preferred Dividends				2,098
		Total Fixed Charges and Preferred Stock Dividends	$	47,190
EARNINGS:
Net Income			$	104,465
Add:
	Income Taxes Applicable to Utility Operating Income			62,231
	Income Taxes Applicable to Non-Utility Operating Income			1,101
	Income Taxes Applicable to Other Income (Expenses)-Net			(1,804	)
	Total Fixed Charges			45,092
Total Earnings			$	211,085
Ratio of Earnings to Fixed Charges				4.5