EX-12.1

EX-12.1 3 d131524dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Columbia Pipeline Group, Inc.

Ratio of Earnings to Fixed Charges


		December 31, 2015				December 31, 2014				December 31, 2013				December 31, 2012				December 31, 2011
Earnings as defined in item 503(d) of Regulation S-K:
Add:
Pretax income from continuing operations⁽¹⁾⁽²⁾		$	400,022,618			$	391,832,675			$	382,318,903			$	333,308,059			$	311,174,194
Fixed Charges			106,114,018				65,365,429				44,984,288				32,043,502				30,907,607
Amortization of capitalized interest⁽³⁾			—				—				—				—				—
Distributed income of equity investees			57,243,010				37,800,000				32,125,000				34,850,000				18,750,000
Share of pre-tax losses of equity investees for which charges arising guarantees are included in fixed charges			—				—				—				—				—
Deduct:
Interest capitalized⁽³⁾			—				—				—				—				—
Preference security dividend requirements of consolidated subsidiaries⁽⁴⁾			—				—				—				—				—
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges			—				—				—				—				—

		$	563,379,646			$	494,998,104			$	459,428,191			$	400,201,561			$	360,831,801


Fixed charges as defined in item 503(d) of Regulation S-K:
Interest on long-term debt		$	98,527,286			$	61,560,284			$	40,611,359			$	26,060,109			$	25,424,998
Other interest			4,467,154				3,805,145				4,372,929				5,983,393				5,482,609
Capitalized interest during period⁽³⁾			—				—								—				—
Amortization of premium, reacquisition premium, discount and expense on debt, net			3,119,578				—				—				—				—
Interest portion of rent expense			—				—				—				—				—
Non-controlling interest			—				—				—				—				—

		$	106,114,018			$	65,365,429			$	44,984,288			$	32,043,502			$	30,907,607


Plus preferred stock dividends:
Preferred dividend requirements of subsidiary			—				—				—				—				—
Preferred dividend requirements factor			0.67				0.61				0.65				0.62				0.62

Preference security dividend requirements of consolidated subsidiaries⁽⁴⁾			—				—				—				—				—
Fixed charges			106,114,018				65,365,429				44,984,288				32,043,502				30,907,607

		$	106,114,018			$	65,365,429			$	44,984,288			$	32,043,502			$	30,907,607


Ratio of earnings to fixed charges			5.31				7.57				10.21				12.49				11.67

⁽¹⁾	Income Statement amounts have been adjusted for discontinued operations.

⁽²⁾	Excludes income or loss from equity investees.

⁽³⁾	CPG follows FASB ASC Topic 980, Regulated Operations, and therefore does not add amortization of capitalized interest or subtract interest capitalized in determining earnings, nor reduces fixed charges for Allowance for Funds Used During Construction.

⁽⁴⁾	Preferred dividends, as defined by SEC regulation S-K, are computed by dividing the preferred dividend requirement by one minus the effective income tax rate applicable to continuing operations.