SPIRE INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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| | | | | | | | | | | | | | | | | | | | | | | |
| 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 |
|