EXHIBIT 12
NUI CORPORATION AND SUBSIDIARIES
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Year Ended September 30,
2003 | 2002 | 2001 | 2000 | 1999 | |
Income (loss) from continuing operations before income taxes |
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| $32,984 |
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Add: |
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Interest element of rentals |
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charged to income (a) | 3,362 | 3,752 | 3,239 | 2,345 | 3,144 |
Interest expense | 27,494 | 28,041 | 29,469 | 21,708 | 21,836 |
Earnings as defined | $20,571 | $59,076 | $78,284 | $57,037 | $64,561 |
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Interest expense | $27,494 | $28,041 | $29,469 | $21,708 | $21,836 |
Capitalized interest | 213 | 173 | 1,548 | 754 | 83 |
Interest element of rentals charged |
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to income (a) | 3,362 | 3,752 | 3,239 | 2,345 | 3,144 |
Fixed charges as defined | $31,069 | $31,966 | $34,256 | $24,807 | $25,063 |
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Consolidated ratio of earnings to fixed charges |
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(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.
(b) For the fiscal year ended September 30, 2003, the company's pre-tax earnings were inadequate to cover its fixed charges for the year. The amount of such earnings deficiency for the year was $10.5 million pre-tax.