EX-12.1 7 w90929exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 UGI UTILITIES INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (THOUSANDS OF DOLLARS)
Year Ended September 30, ---------------------------------------------------- 2003 2002 2001 2000 1999 -------- -------- -------- -------- -------- EARNINGS: Earnings before income taxes $100,599 $ 73,665 $ 79,568 $ 82,882 $ 63,139 Interest expense 17,412 16,365 18,724 18,135 17,317 Amortization of debt discount and expense 244 287 264 218 215 Interest component of rental expense 1,434 1,563 1,541 1,318 1,539 -------- -------- -------- -------- -------- $119,689 $ 91,880 $100,097 $102,553 $ 82,210 ======== ======== ======== ======== ======== FIXED CHARGES: Interest expense $ 17,412 $ 16,365 $ 18,724 $ 18,135 $ 17,317 Amortization of debt discount and expense 244 287 264 218 215 Allowance for funds used during construction (capitalized interest) 7 19 12 17 36 Interest component of rental expense 1,434 1,563 1,541 1,318 1,539 -------- -------- -------- -------- -------- $ 19,097 $ 18,234 $ 20,541 $ 19,688 $ 19,107 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 6.27 5.04 4.87 5.21 4.30 ======== ======== ======== ======== ========