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Exhibit 12
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Statements of Ratio of Earnings to Fixed Charges
($ in millions)
Twelve Months
Ended June 30,
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1999 1998
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Consolidated Income (Loss) from Continuing Operations 416.4 359.7
Adjustments:
Interest during construction (2.7) (2.6)
Distributed (Undistributed) equity income (2.5) 2.7
Fixed charges * 175.1 181.8
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Earnings Available 586.3 541.6
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Fixed Charges:
Interest on long-term and short-term debt 143.4 146.8
Other interest 13.9 15.8
Portion of rentals representing interest 17.8 19.2
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Total Fixed Charges **, *** 175.1 181.8
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Ratio of Earnings to Fixed Charges 3.35 2.98
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Twelve Months
Ended December 31,
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1998 1997 1996 1995 1994
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Consolidated Income (Loss) from Continuing Operations 401.0 392.2 337.5 (643.0) 392.2
Adjustments:
Interest during construction (2.1) (3.0) (1.1) (20.2) -
Distributed (Undistributed) equity income (0.4) 3.6 1.5 (7.9) (0.9)
Fixed charges * 173.1 182.0 184.6 1,061.3 33.7
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Earnings Available 571.6 574.8 522.5 390.2 425.0
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Fixed Charges:
Interest on long-term and short-term debt 145.4 145.6 150.8 987.2 0.7
Other interest 9.6 15.4 13.5 53.6 14.1
Portion of rentals representing interest 18.1 21.0 20.3 20.5 18.9
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Total Fixed Charges **, *** 173.1 182.0 184.6 1,061.3 33.7
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Ratio of Earnings to Fixed Charges 3.30 3.16 2.83 N/A (a) 12.61
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(a) To achieve a one-to-one coverage, the Corporation would need an additional
$671.1 million of earnings for the twelve months ended December 31, 1995.
* Amounts for the twelve months ended December 31, 1994 through December 31,
1996 have been restated to conform to the 1999 presentation.
** This amount excludes approximately $230 million of interest expense not
recorded for the twelve months ended December 31, 1994. This amount
includes interest expense of $982.9 million including the write-off of
unamortized discounts on debentures recorded in 1995.
*** This amount excludes $8.6 million of interest expense not recorded with
respect to the registrant's guarantee of LESOP Trust's debentures for the
twelve months ended December 31, 1994.