Exhibit 12.1

WGL HOLDINGS, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

	Twelve Months Ended September 30,
($ in thousands)	2016		2015		2014		2013		2012
EARNINGS:
Pre-Tax Net Income(a)	$	252,632	$	210,915	$	161,320	$	132,355	$	233,247
Add:
Distributed Income (Loss) of Equity Investees	13,806		5,468		3,194		1,510		1,240
Total Fixed Charges	55,225		53,471		39,484		37,893		38,583
Total Earnings	$	321,663	$	269,854	$	203,998	$	171,758	$	273,070
FIXED CHARGES:
Interest on long term debt	$	51,809	$	50,450	$	36,383	$	34,512	$	36,275
Other Interest (excluding AFUDC)	298		658		918		905		229
Amortization of Debt Premium, Discount and Expense	303		373		345		337		352
One-third of Rental Expense(b)	2,815		1,990		1,838		2,139		1,727
Total Fixed Charges	$	55,225	$	53,471	$	39,484	$	37,893	$	38,583
Ratio of Earnings to Fixed Charges	5.8		5.0		5.2		4.5		7.1
FIXED CHARGES AND PRE-TAX PREFERRED STOCK DIVIDENDS:
Pre-Tax Preferred Dividend Requirement	$	1,320	$	1,320	$	1,320	$	1,320	$	1,320
Effective Income Tax Rate	0.3681		0.3871		0.3480		0.3906		0.3981
Complement of Effective Income Tax Rate (1-Tax Rate)	0.6319		0.6129		0.6520		0.6094		0.6019
Preferred Dividend Requirement	$	2,089	$	2,154	$	2,025	$	2,166	$	2,193
Combined Fixed Charges and Preferred Dividends	$	57,314	$	55,625	$	41,509	$	40,059	$	40,776
Ratio of Earnings to Fixed Charges and Preferred Dividends	5.6		4.9		4.9		4.3		6.7

^(a) Excludes amounts attributable to income or loss from equity investees.

^(b) Management believes one-third of the total rental expense gives a reasonable estimate of total interest on rentals.