EXHIBIT 12
DELTA NATURAL GAS COMPANY, INC.
COMPUTATION OF THE CONSOLIDATED RATIO OF EARNINGS
TO FIXED CHARGES
| 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
| Earnings | ||||||||||||||||||||
| Net income | $ | 5,516,343 | $ | 5,529,378 | $ | 6,496,081 | $ | 8,275,128 | $ | 7,200,776 | ||||||||||
| Provisions for income taxes (a) | 3,230,613 | 3,377,481 | 3,892,215 | 4,858,586 | 4,268,784 | |||||||||||||||
| Fixed charges | 2,485,386 | 2,557,257 | 2,623,662 | 2,694,187 | 2,770,935 | |||||||||||||||
| Total | $ | 11,232,342 | $ | 11,464,116 | $ | 13,011,958 | $ | 15,827,901 | $ | 14,240,495 | ||||||||||
| Fixed Charges | ||||||||||||||||||||
| Interest on debt (a) | $ | 2,235,386 | $ | 2,297,757 | $ | 2,360,662 | $ | 2,424,587 | $ | 2,493,135 | ||||||||||
| Amortization of debt expense | 227,000 | 233,500 | 240,000 | 246,600 | 253,800 | |||||||||||||||
| One third of rental expense | 23,000 | 26,000 | 23,000 | 23,000 | 24,000 | |||||||||||||||
| Total | $ | 2,485,386 | $ | 2,557,257 | $ | 2,623,662 | $ | 2,694,187 | $ | 2,770,935 | ||||||||||
| Ratio of earnings to fixed charges | 4.52x | 4.48x | 4.96x | 5.87x | 5.14x | |||||||||||||||
| (a) | Interest accrued on uncertain tax positions, in accordance with Accounting Standards Codification Topic 740 - Income Taxes, is presented in income taxes on the Consolidated Statements of Income. This interest has been excluded from the determination of fixed charges. |