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,
 
2005
  
2004
  
2003
  
Income from continuing operations
  
$
10,467,614
  
$
9,549,667
  
$
10,079,483
  
Add:
                    
Income taxes
    
6,312,016
   
5,701,090
   
6,032,445
 
Portion of rents representative of interest factor
    
278,846
   
309,446
   
351,445
 
Interest on indebtedness
    
5,077,693
   
5,206,723
   
5,616,756
 
Amortization of debt discount and expense
    
55,802
   
61,422
   
89,155
 
Earnings as adjusted
  
$
22,191,971
  
$
20,828,348
  
$
22,169,284
  
                     
Fixed Charges
                    
Portion of rents representative of interest factor
  
$
278,846
  
$
309,446
  
$
351,445
  
Interest on indebtedness
    
5,077,693
   
5,206,723
   
5,616,756
 
Amortization of debt discount and expense
    
55,802
   
61,422
   
89,155
 
Fixed Charges
  
$
5,412,341
  
$
5,577,591
  
$
6,057,356
  
                     
Ratio of Earnings to Fixed Charges
    
4.10
   
3.73
   
3.66