WGL (WGL) 10-K 2012 Q4 Annual report

Exhibit 12.4

WASHINGTON GAS LIGHT COMPANY

Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

	Twelve Months Ended September 30,
($ in thousands)	2012		2011		2010		2009		2008
FIXED CHARGES AND PRE-TAX PREFERRED STOCK DIVIDENDS
Preferred Stock Dividends	$	1,320	$	1,320	$	1,320	$	1,320	$	1,320
Effective Income Tax Rate		0.3947		0.4449		0.3959		0.3824		0.3617
Complement of Effective Income Tax Rate (1-Tax Rate)		0.6053		0.5551		0.6041		0.6176		0.6383
Pre-Tax Preferred Stock Dividends	$	2,181	$	2,378	$	2,185	$	2,137	$	2,068
FIXED CHARGES:
Interest Expense	$	36,174	$	40,460	$	39,217	$	42,887	$	45,307
Amortization of Debt Premium, Discount and Expense		352		414		417		406		410
Interest Component of Rentals		1,360		1,267		1,101		1,239		1,290
Total Fixed Charges		37,886		42,141		40,735		44,532		47,007
Pre-Tax Preferred Stock Dividends		2,181		2,378		2,185		2,137		2,068
Total Fixed Charges and Preferred Stock Dividends	$	40,067	$	44,519	$	42,920	$	46,669	$	49,075
EARNINGS:
Net Income	$	110,046	$	69,590	$	102,349	$	106,585	$	114,182
Add:
Income Taxes		71,747		55,786		67,081		66,018		64,707
Total Fixed Charges		37,886		42,141		40,735		44,532		47,007
Total Earnings	$	219,679	$	167,517	$	210,165	$	217,135	$	225,896
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends		5.5		3.8		4.9		4.7		4.6