NUI CORPORATION AND SUBSIDIARIES
STATEMENT REGARDING EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Year Ended September 30
2001 2000 1999 1998 1997
---- ---- ---- ---- ----
Income from continuing operations before
income taxes $38,713 $44,893 $41,718 $21,024 $30,172
Add (deduct):
Adjustment related to equity
investments 5,295 (2,187) (631) (402) (2,317)
Add:
Interest element of rentals
charged to income (a) 2,890 2,288 3,144 3,239 3,299
Interest expense 25,067 21,708 21,836 20,496 21,374
------ ------ ------ ------ ------
Earnings as defined $71,965 $66,702 $66,067 $44,357 $52,528
===== ===== ===== ===== =====
Interest expense $25,067 $21,708 $21,836 $20,496 $21,374
Capitalized interest 1,548 754 83 272 186
Interest element of rentals charged
to income (a) 2,890 2,288 3,144 3,239 3,299
------ ------ ------ ------ ------
Fixed charges as defined $29,505 $24,750 $25,063 $24,007 $24,859
====== ====== ====== ====== ======
Consolidated ratio of earnings to fixed charges 2.44 2.70 2.64 1.85 2.11
--- --- --- --- ---
(a) Includes the interest element of rentals where determinable plus 1/3 of
rental expense where no readily defined interest element can be determine