Exhibit 12.1
KeySpan Corporation
Computation of Earnings to Fixed Charges
Three Months Twelve Months Twelve Months Twelve Months Nine Months Twelve Months Twelve Months
Ended Ended Ended Ended Ended Ended Ended
March 31, December 31, December 31, December 31, December 31, December 31, December 31,
2002 2001 2000 1999 1998 1998 1997
---- ---- ---- ---- ---- ---- ----
Earnings
Net Income 219,062 284,539 329,092 269,752 (196,074) 362,240 322,409
Income Tax 118,820 210,695 217,262 136,362 (59,800) 232,653 211,333
Transaction income tax - - - - (99,700.00) - -
Interest Charges 74,640 373,466 204,278 138,655 140,188 409,066 438,926
Portion of Rentals
Representing Interest 9,983 50,271 43,433 23,433 9,641 3,309 3,390
Adjustment Related to
Equity Investments (4,154) (5,559) 1,497 (5,979) (1,623) (5) (22)
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Earnings Available to
Cover 418,351 913,412 795,562 562,223 (207,368) 1,007,263 976,036
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Fixed Charges
Fixed Charges
Interest Charges 76806 385,507 218,017 150,515 147,998 409,066 438,926
Portion of Rentals
Representing Interest 9983 50,271 43,433 23,433 9,641 3,309 3,390
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86,789 435,778 261,450 173,948 157,639 412,375 442,316
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Total Fixed Charges
Ratio of Earnings to Fixed 4.82 2.10 3.04 3.23 N/A 2.44 2.21
Charges ============ ============ ============== ============================================ =============