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UGI UTILITIES INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS - EXHIBIT 12.2
(THOUSANDS OF DOLLARS)
Six
Months
Ended
March 31, Year Ended September 30,
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2000 1999 1998 1997 1996
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EARNINGS:
Earnings before income taxes $ 73,389 $ 63,139 $ 57,007 $ 63,275 $ 61,717
Interest expense 9,302 17,317 17,383 16,696 15,921
Amortization of debt discount and expense 105 215 200 176 173
Interest component of rental expense 659 1,539 1,624 1,887 1,838
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$ 83,455 $ 82,210 $ 76,214 $ 82,034 $ 79,649
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COMBINED FIXED CHARGES AND PREFERRED
STOCK DIVIDENDS:
Interest expense $ 9,302 $ 17,317 $ 17,383 $ 16,696 $ 15,921
Amortization of debt discount and expense 105 215 200 176 173
Allowance for funds used during
construction (capitalized interest) 38 36 39 114 107
Interest component of rental expense 659 1,539 1,624 1,887 1,838
Preferred stock dividend requirements 775 1,550 2,160 2,764 2,765
Adjustment required to state preferred stock
dividend requirements on a pretax basis 491 968 1,304 1,754 1,685
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$ 11,370 $ 21,625 $ 22,710 $ 23,391 $ 22,489
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Ratio of earnings to combined fixed charges
and preferred stock dividends 7.34 3.80 3.36 3.51 3.54
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