EX-12.2 3 lgc-20160930xex122.htm EXHIBIT 12.2 Exhibit
Exhibit 12.2

LACLEDE GAS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)
Years Ended September 30,
 
2016
 
2015
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
Income before income taxes
$
151.3

 
$
148.5

 
$
125.6

 
$
63.4

 
$
68.3

Add: Fixed Charges (from below)
40.1

 
39.7

 
39.5

 
28.1

 
26.7

Total Earnings
$
191.4

 
$
188.2

 
$
165.1

 
$
91.5

 
$
95.0

 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
Interest on long-term debt
$
32.9

 
$
33.1

 
$
34.4

 
$
24.9

 
$
22.9

Other interest charges
4.5

 
3.3

 
3.0

 
1.2

 
2.2

One third of applicable rentals charged to operating expense (which approximates the interest portion)
2.5

 
3.3

 
2.1

 
2.0

 
1.6

Add back: Allowance for borrowed funds used during construction
0.2

 
—

 
—

 
—

 
—

Total Fixed Charges
$
40.1

 
$
39.7

 
$
39.5

 
$
28.1

 
$
26.7

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
4.77

 
4.74

 
4.18

 
3.26

 
3.56