Exhibit 12
SEMCO ENERGY, INC.
Ratio of Earnings to Fixed Charges
(Thousands of Dollars)
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Twelve Months Ended Year Ended
Description September 30, 1998 1997 1996 1995 1994 1993
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Earnings as Defined <F1>
Net Income (Loss) $11,161 $14,921 $(12,803) $11,331 $ 9,992 $ 9,563
Income taxes 5,022 8,228 (7,308) 6,151 4,560 5,809
Other items 673 (96) (96) (96) 1,882 176
Fixed charges as defined 15,951 16,690 14,588 14,402 14,092 14,592
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Earnings as defined $32,807 $39,743 $ (5,619) $31,788 $30,526 $30,140
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Fixed charges as defined <F1>
Interest on long-term debt $11,614 $ 9,389 $ 8,514 $ 8,546 $ 8,605 $ 9,426
Amortization of debt expense 439 449 431 520 454 409
Other interest charges 3,626 6,578 5,369 5,062 4,759 4,483
Preferred securities dividends
and distributions 272 274 274 274 274 274
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Fixed charges as defined $15,951 $16,690 $ 14,588 $14,402 $14,092 $14,592
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Ratio of earnings to fixed charges 2.06 2.38 <F2> 2.21 2.17 2.07
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Notes:
<FN>
<F1>
Earnings and fixed charges as defined in instructions for Item 503 of Regulation S-K.
<F2>
For the year ended December 31, 1996, fixed charges exceeded earnings by $20.2 million. Earnings as
defined include a $32.3 million non-cash pretax write-down of the NOARK investment. Excluding the NOARK
write-down, the ratio of earnings to fixed charges would have been 1.83.
</FN>