EX-12.2 12 w66595exv12w2.txt RATIO OF EARNINGS TO COMBINED FIXED CHARGES UGI UTILITIES INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS - EXHIBIT 12.2 (THOUSANDS OF DOLLARS)
Year Ended September 30, ----------------------------------------------------------------------------- 2002 2001 2000 1999 1998 ----------- ------------ ------------ ----------- ------------ EARNINGS: Earnings before income taxes $ 73,665 $ 79,568 $ 82,882 $ 63,139 $ 57,007 Interest expense 16,365 18,724 18,135 17,317 17,383 Amortization of debt discount and expense 287 264 218 215 200 Interest component of rental expense 1,563 1,541 1,318 1,539 1,624 ---------- ---------- ---------- --------- --------- $ 91,880 $ 100,097 $ 102,553 $ 82,210 $ 76,214 ========== ========== ========== ========= ========= COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS: Interest expense $ 16,365 $ 18,724 $ 18,135 $ 17,317 $ 17,383 Amortization of debt discount and expense 287 264 218 215 200 Allowance for funds used during construction (capitalized interest) 19 12 17 36 39 Interest component of rental expense 1,563 1,541 1,318 1,539 1,624 Preferred stock dividend requirements 1,550 1,550 1,550 1,550 2,160 Adjustment required to state preferred stock dividend requirements on a pretax basis 1,039 1,012 995 968 1,304 ---------- ---------- ---------- --------- --------- $ 20,823 $ 23,103 $ 22,233 $ 21,625 $ 22,710 ========== ========== ========== ========= ========= Ratio of earnings to combined fixed charges and preferred stock dividends 4.41 4.33 4.61 3.80 3.36 ========== ========== ========== ========= =========