NiSource (NI) 8-K Entry into a Material Definitive Agreement

NiSource Inc.

Exhibit 12.1

Ratio of Earnings to Fixed Charges

	June 30, 2017		December 31, 2016		December 31, 2015		December 31, 2014		December 31, 2013
Earnings as defined in item 503(d) of RegulationS-K:
Add:
Pretax income from continuing Operations (a)(b)	$	261,481,183	$	510,208,667	$	340,406,027	$	423,910,493	$	330,158,304
Fixed Charges		202,628,088		407,450,678		422,886,197		421,483,105		410,081,139
Amortization of capitalized interest (c)		—		—		—		—		—
Distributed income of equity investees		679,542		224,702		151,119		110,964		118,416
Share ofpre-tax losses of equity investees for which charges arising guarantees are included in fixed charges		—		—		—		—		—
Deduct:
Interest capitalized (c)		—		—		—		—		—
Preference security dividend requirements of consolidated subsidiaries (d)		—		—		—		—		—
Non-controlling interest inpre-tax income of subsidiaries that have not incurred fixed charges		—		—		—		—		—
	$	464,788,813	$	917,884,047	$	763,443,343	$	845,504,562	$	740,357,859
Fixed charges as defined in item 503(d) of RegulationS-K:
Interest on long-term debt	$	173,358,379	$	352,265,520	$	377,469,202	$	368,614,101	$	364,427,942
Other interest		17,916,382		30,244,516		20,897,004		22,963,342	$	20,521,761
Capitalized interest during period (c)
Amortization of premium, reacquisition premium, discount and expense on debt, net		3,613,577		7,618,345		8,701,321		9,967,084	$	9,395,880
Interest portion of rent expense		7,739,750		17,322,297		15,818,670		19,938,578		15,735,555
Non-controlling interest		—		—		—		—	$	—
	$	202,628,088	$	407,450,678	$	422,886,197	$	421,483,105	$	410,081,138
Plus preferred stock dividends:
Preferred dividend requirements of subsidiary	$	—	$	—	$	—	$	—	$	—
Preferred dividend requirements factor		0.64		0.64		0.58		0.61		0.67
Preference security dividend requirements of consolidated subsidiaries (d)		—		—		—		—		—
Fixed charges		202,628,088		407,450,678		422,886,197		421,483,105		410,081,138
	$	202,628,088	$	407,450,678	$	422,886,197	$	421,483,105	$	410,081,138
Ratio of earnings to fixed charges		2.29		2.25		1.81		2.01		1.81

(a) Income Statement amounts have been adjusted for discontinued operations.

(b) Excludes adjustment for minority interest in consolidated subsidiaries or income or loss from equity investees.

(c) NiSource is a public utility following ASC 980 and therefore does not add amortization of capitalized interest or subtract interest capitalized in determining earnings, nor reduces fixed charges for Allowance for Funds Used During Construction.

(d) Preferred dividends, as defined by SEC regulationS-K, are computed by dividing the preferred dividend requirement by one minus the effective income tax rate applicable to continuing operations.