EX-12 3 exhibit12.htm EXHIBIT 12 DGAS-2013.6.30-10kexhibit12


EXHIBIT 12


DELTA NATURAL GAS COMPANY, INC.
COMPUTATION OF THE CONSOLIDATED RATIO OF EARNINGS
TO FIXED CHARGES

 
 
2013
 
2012
 
2011
 
2010
 
2009
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
 
  Net income
 
$
7,200,776

 
$
5,783,998

 
$
6,364,895

 
$
5,651,817

 
$
5,210,729

  Provisions for income taxes (a)
 
4,268,784

 
3,258,144

 
3,759,607

 
3,192,285

 
3,008,396

Fixed charges
 
2,770,935

 
4,321,256

 
4,112,798

 
4,194,192

 
4,553,657

 
 
 
 
 
 
 
 
 
 
 
     Total
 
$
14,240,495

 
$
13,363,398

 
$
14,237,300

 
$
13,038,294

 
$
12,772,782

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
  Interest on debt (a)
 
$
2,493,135

 
$
3,969,025

 
$
3,701,535

 
$
3,781,929

 
$
4,140,394

  Amortization of debt
 
253,800

 
329,231

 
387,263

 
387,263

 
387,263

  One third of rental expense
 
24,000

 
23,000

 
24,000

 
25,000

 
26,000

 
 
 
 
 
 
 
 
 
 
 
     Total
 
$
2,770,935

 
$
4,321,256

 
$
4,112,798

 
$4,194,192
 
$4,553,657
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
5.14x

 
3.09x

 
3.46x

 
3.11x

 
2.80x



(a)
Interest accrued on uncertain tax positions, in accordance with Accounting Standards Codification Topic 740 - Income Taxes, is presented in income taxes on the Consolidated Statements of Income. This interest has been excluded from the determination of fixed charges.