Indiana Gas Company, Inc.
and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
(Thousands except ratios)
12 Months
Fixed Charges, as defined in Ended Fiscal Year Ended September 30
Regulation S-K, Item 503: June 30, 1997 1996 1995 1994 1993 1992
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Interest on LT debt 14,019 14,882 13,474 14,798 15,304 13,885
Interest on LT debt--nonutility -- -- -- -- -- --
Interest on notes payable 1,584 337 971 493 447 222
Other Interest 824 688 1,085 746 889 449
1/3 rent expense 954 937 865 949 916 1,086
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(1) Total fixed charges 17,381 16,844 16,395 16,986 17,556 15,642
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EARNINGS:
Net income before preferred stock dividends 37,466 38,630 32,109 34,596 28,534 25,743
Income taxes
Current 22,195 23,300 16,152 17,124 13,892 12,748
Current-nonutility (IEI P.29 & Ind EN P.8) -- -- -- -- -- --
Deferred 1,209 804 3,994 3,273 2,931 2,073
ITC (930) (930) (930) (930) (1,007) (929)
Other income taxes
Ind Gas(409201-409207, 409211-409217) (991) (606) (586) (1,490) 214 (1,092)
Fixed charges (1) 17,381 16,844 16,395 16,986 17,556 15,642
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(2) Total earnings 76,330 78.042 67,134 69,559 62,120 54,185
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RATIO OF EARNINGS TO FIXED CHARGES
(2) DIVIDED BY (1) 4.4 4.6 4.1 4.1 3.5 3.5
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