Atmos Energy (ATO) 10-Q 2017 Q2 Quarterly report

Exhibit 12

Atmos Energy Corporation

Computation of Earnings to Fixed Charges

	Three Months Ended   March 31				Six Months Ended   March 31
	2017		2016		2017		2016
	(Dollars in thousands)
Income from continuing operations before provision for income taxes per statement of income	$	259,061	$	223,768	$	436,955	$	386,081
Add:
Portion of rents representative of the interest factor	3,029		3,134		6,268		6,276
Interest on debt & amortization of debt expense	26,944		27,559		57,974		57,096
Income as adjusted	$	289,034	$	254,461	$	501,197	$	449,453
Fixed charges:
Interest on debt & amortization of debt expense (1)	$	26,944	$	27,559	$	57,974	$	57,096
Capitalized interest (2)	469		652		915		1,369
Rents	9,088		9,401		18,804		18,827
Portion of rents representative of the interest factor (3)	3,029		3,134		6,268		6,276
Fixed charges (1)+(2)+(3)	$	30,442	$	31,345	$	65,157	$	64,741
Ratio of earnings to fixed charges	9.49		8.12		7.69		6.94