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

Chesapeake Utilities Corporation and Subsidiaries
  
Ratio of Earnings to Fixed Charges
  
                       
                       
For the Years Ended December 31,
 
2006
  
2005
  
2004
  
2003
  
2002
  
Income from continuing operations
  
$
10,506,525
  
$
10,467,614
  
$
9,549,667
  
$
10,079,483
  
$
7,535,009
  
Add:
                                
Income taxes
    
6,836,562
   
6,312,016
   
5,701,090
   
6,032,445
   
4,609,552
 
Portion of rents representative of interest factor
    
226,583
   
278,846
   
309,446
   
351,445
   
411,461
 
Interest on indebtedness
    
5,725,228
   
5,077,693
   
5,206,723
   
5,616,756
   
4,867,520
 
Amortization of debt discount and expense
    
52,108
   
55,802
   
61,422
   
89,155
   
87,502
 
Earnings as adjusted
  
$
23,347,006
  
$
22,191,971
  
$
20,828,348
  
$
22,169,284
  
$
17,511,044
  
                                 
Fixed Charges
                                
Portion of rents representative of interest factor
  
$
226,583
  
$
278,846
  
$
309,446
  
$
351,445
  
$
411,461
  
Interest on indebtedness
    
5,725,228
   
5,077,693
   
5,206,723
   
5,616,756
   
4,867,520
 
Amortization of debt discount and expense
    
52,108
   
55,802
   
61,422
   
89,155
   
87,502
 
Fixed Charges
  
$
6,003,919
  
$
5,412,341
  
$
5,577,591
  
$
6,057,356
  
$
5,366,483
  
                                 
Ratio of Earnings to Fixed Charges
    
3.89
   
4.10
   
3.73
   
3.66
   
3.26