Exhibit 12.1
KeySpan Corporation
Computation of Earnings to
Fixed Charges
Twelve Months Twelve Months 9 Months Twelve Months Twelve Months Twelve Months
Ended Ended Ended Ended Ended Ended
December 31, December 31, December 31, March 31, March 31, December 31,
2000 1999 1998 1998 1997 1996
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Earnings
Net Income 327,149 269,752 (196,074) 362,240 322,409 316,464
Income Tax 216,276 136,362 (59,800) 232,653 211,333 209,257
Transaction Income Tax - - (99,700) - - -
Interest on Long-Term Debt 152,269 109,053 117,388 351,261 372,108 384,198
Other Interest Charges 54,045 29,602 22,800 57,805 66,818 67,130
Portion of Rentals
Representing Interest 43,433 23,433 9,641 3,309 3,390 4,758
Adjustment Related to Equity
Investments 1,497 (5,979) (1,623) (5) (22) (24)
Earnings Available to Cover ---------------------------------------------------------------------------------------------
Fixed Charges 794,669 562,223 (207,368) 1,007,263 976,036 981,783
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Fixed Charges
Interest on Long-Term Debt 166,008 120,913 125,198 351,261 372,108 384,198
Other Interest Charges 54,045 29,602 22,800 57,805 66,818 67,130
Portion of Rentals
Representing Interest 43,433 23,433 9,641 3,309 3,390 4,758
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Total Fixed Charges 263,486 173,948 157,639 412,375 442,316 456,086
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Ratio of Earnings to Fixed
Charges 3.02 3.23 N/A 2.44 2.21 2.15
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KeySpan Corporation
Computation of Earnings to
Combined Fixed Charges
Twelve Months Twelve Months Twelve Months Twelve Months Twelve Months
Ended Ended 9 Months Ended Ended Ended Ended
December 31, December 31, December 31, March 31, March 31, December 31,
2000 1999 1988 1998 1997 1996
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Earnings
Net Income 327,149 269,752 (196,074) 362,240 322,409 316,464
Income Tax 216,276 136,362 (59,800) 232,653 211,333 209,257
Transaction Income Tax - - (99,700) - - -
Interest on Long-Term Debt 152,269 109,053 117,388 351,261 372,108 384,198
Other Interest Charges 54,045 29,602 22,800 57,805 66,818 67,130
Portion of Rentals Representing
Interest 43,433 23,433 9,641 3,309 3,390 4,758
Adjustment Related to Equity
Investments 1,497 (5,979) (1,623) (5) (22) (24)
Earnings Available to Cover ---------------- --------- ------------ ------- - --------- ----------
Fixed Charges 794,669 562,223 (207,368) 1,007,263 976,036 981,783
Fixed Charges
Interest on Long-Term Debt 166,008 120,913 125,198 351,261 372,108 384,198
Other Interest Charges 54,045 29,602 22,800 57,805 66,818 67,130
Portion of Rentals Representing
Interest 43,433 23,433 9,641 3,309 3,390 4,758
Preference Security Dividend 31,229 53,465 44,006 84,939 85,431 87,027
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Total Fixed Charges 294,715 227,413 201,645 497,314 527,747 543,113
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Ratio of Earnings to Fixed
Charges 2.70 2.47 N/A 2.03 1.85 1.81
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