EXHIBIT 12
AGL Resources Inc. and Subsidiaries
Statement Setting Forth Computation of
Ratio of Earnings to Fixed Charges
(Dollars in millions)
Years ended September 30,
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2000 1999 1998 1997 1996
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Earnings available for fixed charges:
Net income $ 71.1 $ 74.4 $ 80.6 $ 76.6 $ 75.6
Income tax expense 37.2 39.1 38.8 46.8 47.5
Fixed charges - see below 57.9 56.8 57.7 55.1 52.0
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Total $166.2 $170.3 $177.1 $178.5 $175.1
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Fixed Charges:
Interest on long-term debt $ 46.7 $ 49.7 $ 49.7 $ 45.1 $ 42.2
Amortization of debt expense 0.3 0.3 0.3 0.3 0.3
Other interest 6.9 4.0 5.1 7.5 7.3
Interest component of rentals
charged to income 4.0 2.8 2.6 2.2 2.2
------ ------ ------ ------ ------
Total fixed charges $ 57.9 $ 56.8 $ 57.7 $ 55.1 $ 52.0
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Ratio of earnings to fixed
charges 2.87 3.00 3.07 3.24 3.37
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