Exhibit 12
THE LACLEDE GROUP, INC. AND SUBSIDIARY COMPANIES
SCHEDULE OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
-------------------------------------------------------------
Fiscal Year Ended September 30,
---------------------------------------------
2003 2002 2001 2000 1999
---- ---- ---- ---- ----
(Thousands of Dollars)
Income before interest
charges and income taxes $80,185 $60,440 $73,742 $64,078 $61,016
Add: One third of
Applicable rentals
charged to operating
expense (which
approximates the
interest factor) 2,873 2,662 313 310 301
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Total Earnings $83,058 $63,102 $74,055 $64,388 $61,317
=========================================================================
Interest on long-term debt $20,169 $20,820 $18,372 $15,164 $13,966
Other Interest 6,717 4,989 10,067 8,844 6,627
Add: One third of
Applicable rentals
charged to operating
expense (which
approximates the
interest factor) 2,873 2,662 313 310 301
-------------------------------------------------------------------------
Total Fixed Charges $29,759 $28,471 $28,752 $24,318 $20,894
=========================================================================
Ratio of Earnings to Fixed
Charges 2.79 2.22 2.58 2.65 2.93
LACLEDE GAS COMPANY
SCHEDULE OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
-------------------------------------------------------------
Fiscal Year Ended September 30,
---------------------------------------------
2003 2002 2001 2000 1999
---- ---- ---- ---- ----
(Thousands of Dollars)
Income before interest
charges and income taxes $76,274 $56,154 $73,742 $64,078 $61,016
Add: One third of
Applicable rentals
charged to operating
expense (which
approximates the
interest factor) 457 315 313 310 301
-------------------------------------------------------------------------
Total Earnings $76,731 $56,469 $74,055 $64,388 $61,317
=========================================================================
Interest on long-term debt $20,169 $20,820 $18,372 $15,164 $13,966
Other Interest 3,752 4,285 10,067 8,844 6,627
Add: One third of
Applicable rentals
charged to operating
expense (which
approximates the
interest factor) 457 315 313 310 301
-------------------------------------------------------------------------
Total Fixed Charges $24,378 $25,420 $28,752 $24,318 $20,894
=========================================================================
Ratio of Earnings to Fixed
Charges 3.15 2.22 2.58 2.65 2.93
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