EX-12 4 doc2.txt RATIO OF EARNINGS TO FIXED CHARGES CHESAPEAKE UTILITIES CORPORATION AND SUBSIDIARIES EXHIBIT 12 RATIO OF EARNINGS TO FIXED CHARGES
---------------------------------------------------------------------------------------------- FOR THE YEARS ENDED DECEMBER 31, 2001 2000 1999 ---------------------------------------------------------------------------------------------- INCOME FROM CONTINUING OPERATIONS . . . . . . . . . . . $ 6,721,537 $ 7,489,201 $ 8,270,986 Add: Income taxes . . . . . . . . . . . . . . . . . . . 4,252,275 4,496,592 4,684,247 Portion of rents representative of interest factor 275,773 156,680 162,278 Interest on indebtedness . . . . . . . . . . . . . 5,178,495 4,398,266 3,348,231 Amortization of debt discount and expense. . . . . 101,183 111,122 117,966 ---------------------------------------------------------------------------------------------- EARNINGS AS ADJUSTED. . . . . . . . . . . . . . . . . . $16,529,263 $16,651,861 $16,583,708 ============================================================================================== FIXED CHARGES Portion of rents representative of interest factor $ 275,773 $ 156,680 $ 162,278 Interest on indebtedness . . . . . . . . . . . . . 5,178,495 4,398,266 3,348,231 Amortization of debt discount and expense. . . . . 101,183 111,122 117,966 ---------------------------------------------------------------------------------------------- FIXED CHARGES . . . . . . . . . . . . . . . . . . . . . $ 5,555,451 $ 4,666,068 $ 3,628,475 ============================================================================================== RATIO OF EARNINGS TO FIXED CHARGES. . . . . . . . . . . 2.98 3.57 4.57 ==============================================================================================