EX-12.2 8 w90929exv12w2.txt COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED EXHIBIT 12.2 UGI UTILITIES INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (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 Estimated 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 ======== ======== ======== ======== ======== COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS: 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 Estimated interest component of rental expense 1,434 1,563 1,541 1,318 1,539 Preferred stock dividend requirements 1,163 1,550 1,550 1,550 2,160 Adjustment required to state preferred stock dividend requirements on a pretax basis 753 1,012 995 968 1,304 -------- -------- -------- -------- -------- $ 21,013 $ 20,796 $ 23,086 $ 22,206 $ 22,571 ======== ======== ======== ======== ======== Ratio of earnings to combined fixed charges and preferred stock dividends 5.70 4.42 4.34 4.62 3.64 ======== ======== ======== ======== ========