EX-12 8 ratio.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12

Chesapeake Utilities Corporation
Ratio of Earnings to Fixed Charges

For the Years Ended December 31,
   
2004
    
2003
    
2002
  
Income from continuing operations
  
$
9,549,667
  
$
10,079,483
  
$
7,535,009
  
Add:
                    
Income taxes
    
5,701,090
   
6,032,445
   
4,609,552
 
Portion of rents representative of interest factor
    
309,446
   
351,445
   
411,461
 
Interest on indebtedness
    
5,206,723
   
5,616,756
   
4,867,520
 
Amortization of debt discount and expense
    
61,422
   
89,155
   
87,502
 
Earnings as adjusted
  
$
20,828,348
  
$
22,169,284
  
$
17,511,044
  
                     
Fixed Charges
                    
Portion of rents representative of interest factor
  
$
309,446
  
$
351,445
  
$
411,461
  
Interest on indebtedness
    
5,206,723
   
5,616,756
   
4,867,520
 
Amortization of debt discount and expense
    
61,422
   
89,155
   
87,502
 
Fixed Charges
  
$
5,577,591
  
$
6,057,356
  
$
5,366,483
  
Ratio of Earnings to Fixed Charges
    
3.73
   
3.66
   
3.26