WGL (WGL) 10-K 2016 FY Annual report

Exhibit 12.2

WASHINGTON GAS LIGHT COMPANY

Computation of Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

	Twelve Months Ended September 30,
($ in thousands)	2016		2015		2014		2013		2012
EARNINGS:
Pre-Tax Net Income(a)	$	184,780	$	180,069	$	145,858	$	116,519	$	181,793
Add:
Total Fixed Charges	42,916		43,202		38,415		37,081		37,886
Total Earnings	$	227,696	$	223,271	$	184,273	$	153,600	$	219,679
FIXED CHARGES:
Interest on long term debt	$	40,129	$	41,102	$	36,233	$	34,512	$	36,275
Other Interest (excluding AFUDC)	674		295		458		525		(101		)
Amortization of Debt Premium, Discount and Expense	303		412		345		337		352
One-third of Rental Expense(b)	1,810		1,393		1,379		1,707		1,360
Total Fixed Charges	$	42,916	$	43,202	$	38,415	$	37,081	$	37,886
Ratio of Earnings to Fixed Charges	5.3		5.2		4.8		4.1		5.8
FIXED CHARGES AND PRE-TAX PREFERRED STOCK DIVIDENDS:
Pre-Tax Preferred Dividend Requirement	$	1,320	$	1,320	$	1,320	$	1,320	$	1,320
Effective Income Tax Rate	0.3879		0.3965		0.3258		0.3793		0.3947
Complement of Effective Income Tax Rate (1-Tax Rate)	0.6121		0.6035		0.6742		0.6207		0.6053
Preferred Dividend Requirement	$	2,157	$	2,187	$	1,958	$	2,127	$	2,181
Combined Fixed Charges and Preferred Dividends	$	45,073	$	45,389	$	40,373	$	39,208	$	40,067
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends	5.1		4.9		4.6		3.9		5.5

^(a) Excludes amounts attributable to income or loss from equity investees.

^(b) Management believes one-third of the total rental expense gives a reasonable estimate of total interest on rentals.