Exhibit 12.1
SPIRE INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended June 30, | Twelve Months Ended September 30, | ||||||||||||||||||||||
(Dollars in Millions) | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||
Earnings | |||||||||||||||||||||||
Income before income taxes | $ | 236.1 | $ | 199.1 | $ | 116.9 | $ | 70.4 | $ | 88.9 | $ | 93.0 | |||||||||||
Add: Fixed Charges (from below) | 60.3 | 78.0 | 48.3 | 30.6 | 26.5 | 27.2 | |||||||||||||||||
Total Earnings | $ | 296.4 | $ | 277.1 | $ | 165.2 | $ | 101.0 | $ | 115.4 | $ | 120.2 | |||||||||||
Fixed Charges | |||||||||||||||||||||||
Interest on long-term debt | $ | 50.2 | $ | 66.6 | $ | 39.3 | $ | 25.5 | $ | 23.0 | $ | 23.2 | |||||||||||
Other interest charges | 7.5 | 8.0 | 6.9 | 3.1 | 2.0 | 2.2 | |||||||||||||||||
One third of applicable rentals charged to operating expense (which approximates the interest portion) | 2.5 | 3.4 | 2.1 | 2.0 | 1.5 | 1.8 | |||||||||||||||||
Add back: Allowance for borrowed funds used during construction | 0.1 | — | — | — | — | — | |||||||||||||||||
Total Fixed Charges | $ | 60.3 | $ | 78.0 | $ | 48.3 | $ | 30.6 | $ | 26.5 | $ | 27.2 | |||||||||||
Ratio of Earnings to Fixed Charges | 4.92 | 3.55 | 3.41 | 3.30 | 4.35 | 4.42 |