EX-12.1 5 exhibit12.txt
NUI CORPORATION AND SUBSIDIARIES STATEMENT REGARDING EARNINGS TO FIXED CHARGES (Dollars in thousands) Year Ended September 30 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Income from continuing operations before income taxes $38,713 $44,893 $41,718 $21,024 $30,172 Add (deduct): Adjustment related to equity investments 5,295 (2,187) (631) (402) (2,317) Add: Interest element of rentals charged to income (a) 2,890 2,288 3,144 3,239 3,299 Interest expense 25,067 21,708 21,836 20,496 21,374 ------ ------ ------ ------ ------ Earnings as defined $71,965 $66,702 $66,067 $44,357 $52,528 ===== ===== ===== ===== ===== Interest expense $25,067 $21,708 $21,836 $20,496 $21,374 Capitalized interest 1,548 754 83 272 186 Interest element of rentals charged to income (a) 2,890 2,288 3,144 3,239 3,299 ------ ------ ------ ------ ------ Fixed charges as defined $29,505 $24,750 $25,063 $24,007 $24,859 ====== ====== ====== ====== ====== Consolidated ratio of earnings to fixed charges 2.44 2.70 2.64 1.85 2.11 --- --- --- --- ---
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determine