Exhibit 12.1
AGL Resources Inc. and Subsidiaries
Statement Setting Forth Computation of
Ratio of Earnings to Fixed Charges
(Dollars in millions)
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5yr + Q3-2001
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Q3-2001 Q3-2000 2000 1999
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Earnings available for fixed charges:
Net income $ 84.1 $ 53.7 $ 71.1 $ 74.4
Income tax expense 47.8 30.7 37.2 39.1
Fixed charges - see below 73.5 43.6 57.9 56.8
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Total $ 205.4 $ 128.0 $ 166.2 $ 170.3
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Fixed Charges:
Interest on long-term debt $ 40.9 $ 35.2 $ 46.7 $ 49.7
Amortization of debt expense 0.3 0.3 0.3 0.3
Other interest 27.7 4.3 6.9 4.0
Interest component of rentals charged to income 4.6 3.8 4.0 2.8
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Total fixed charges $ 73.5 $ 43.6 $ 57.9 $ 56.8
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Ratio of earnings to fixed charges 2.79 2.94 2.87 3.00
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1998 1997 1996
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Earnings available for fixed charges:
Net income $ 80.6 $ 76.6 $ 75.6 1995 to 1992 are hidden
Income tax expense 38.8 46.8 47.5
Fixed charges - see below 57.7 55.1 52.0
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Total $ 177.1 $ 178.5 $ 175.1
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Fixed Charges:
Interest on long-term debt $ 49.7 $ 45.1 $ 42.2
Amortization of debt expense 0.3 0.3 0.3
Other interest 5.1 7.5 7.3
Interest component of rentals charged to income 2.6 2.2 2.2
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Total fixed charges $ 57.7 $ 55.1 $ 52.0
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Ratio of earnings to fixed charges 3.07 3.24 3.37
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