EX-12.1 2 ex12112-31x12ugiutilities1.htm EXHIBIT 12.1 Ex. 12.1 12-31-12 UGI Utilities 10Q




UGI UTILITIES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - EXHIBIT 12.1
(Thousands of dollars)


 
Three Months Ended December 31,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended September 30,
 
2012
 
2012
 
2011
 
2010
 
2009
 
2008
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Earnings before income taxes
$
62,487

 
$
142,971

 
$
168,693

 
$
147,183

 
$
125,554

 
$
123,977

Interest expense
10,077

 
42,412

 
42,728

 
42,336

 
43,918

 
39,065

Amortization of debt discount and
 
 
 
 
 
 
 
 
 
 
 
expense
176

 
814

 
1,060

 
627

 
625

 
467

Estimated interest component of
 
 
 
 
 
 
 
 
 
 
 
rental expense
500

 
2,121

 
1,740

 
1,912

 
1,965

 
1,619

 
$
73,240

 
$
188,318

 
$
214,221

 
$
192,058

 
$
172,062

 
$
165,128

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
10,077

 
$
42,412

 
$
42,728

 
$
42,336

 
$
43,918

 
$
39,065

Amortization of debt discount and
 
 
 
 
 
 
 
 
 
 
 
expense
176

 
814

 
1,060

 
627

 
625

 
467

Allowance for funds used during
 
 
 
 
 
 
 
 
 
 
 
construction (capitalized interest)
80

 
10

 
90

 
74

 
160

 
139

Estimated interest component of
 
 
 
 
 
 
 
 
 
 
 
rental expense
500

 
2,121

 
1,740

 
1,912

 
1,965

 
1,619

 
$
10,833

 
$
45,357

 
$
45,618

 
$
44,949

 
$
46,668

 
$
41,290

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
6.76

 
4.15

 
4.70

 
4.27

 
3.69

 
4.00