Exhibit 12
SEMCO ENERGY, INC.
Ratio of Earnings to Fixed Charges
(Thousands of Dollars)
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Twelve Months Ended Year Ended
Description March 31, 1999 1998 1997<F3> 1996<F3> 1995 1994
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Earnings as Defined <F1>
Net Income (Loss) $11,871 $10,040 $15,425 $(12,762) $11,331 $ 9,992
Income taxes 8,198 7,011 8,469 (7,106) 6,151 4,560
Other items 672 672 (96) (96) (96) 1,882
Fixed charges as defined 15,292 15,085 16,741 14,617 14,402 14,092
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Earnings as defined $36,033 $32,808 $40,539 $ (5,347) $31,788 $30,526
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Fixed charges as defined <F1>
Interest on long-term debt $11,479 $11,488 $ 9,389 $ 8,514 $ 8,546 $ 8,605
Amortization of debt expense 467 450 449 431 520 454
Other interest charges 3,072 2,873 6,629 5,398 5,062 4,759
Preferred securities dividends
and distributions 274 274 274 274 274 274
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Fixed charges as defined $15,292 $15,085 $16,741 $ 14,617 $14,402 $14,092
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Ratio of earnings to fixed charges 2.36 2.17 2.42 <F2> 2.21 2.17
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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 $20.0 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 1.84.
<F3>
Restated to account for a 1998 acquisition as a pooling of interests. Years prior to 1996 were not
restated for the pooling of interest as the effects were deemed not material.
</FN>