UGI UTILITIES INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS - EXHIBIT 12.2
(THOUSANDS OF DOLLARS)
Three
Months
Ended Year Ended September 30,
December 31, ------------------------------------------------------------
2001 2001 2000 1999 1998
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EARNINGS:
Earnings before income taxes $ 23,346 $ 79,568 $ 82,882 $63,139 $57,007
Interest expense 4,187 18,724 18,135 17,317 17,383
Amortization of debt discount and expense 76 264 218 215 200
Interest component of rental expense 349 1,541 1,318 1,539 1,624
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$ 27,958 $100,097 $102,553 $82,210 $76,214
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COMBINED FIXED CHARGES AND PREFERRED
STOCK DIVIDENDS:
Interest expense $ 4,187 $ 18,724 $ 18,135 $17,317 $17,383
Amortization of debt discount and expense 76 264 218 215 200
Allowance for funds used during
construction (capitalized interest) 1 12 17 36 39
Interest component of rental expense 349 1,541 1,318 1,539 1,624
Preferred stock dividend requirements 388 1,550 1,550 1,550 2,160
Adjustment required to state preferred stock
dividend requirements on a pretax basis 257 1,012 995 968 1,304
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$ 5,258 $ 23,103 $ 22,233 $21,625 $22,710
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Ratio of earnings to combined fixed charges
and preferred stock dividends 5.32 4.33 4.61 3.80 3.36
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