EX-12 5 dex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 Alabama Gas Corporation Computation of ratio of earnings to fixed charges (In thousands, except for ratios)
Years ended September 30, Twelve months ----------------------------------------------- ended 2000 1999 1998 1997 1996 June 30, 2001 ------- ------- ------- ------- ------- ------------- Earnings, as defined: Income from continuing operations before provision for income taxes $40,646 $36,460 $31,987 $28,688 $26,008 $40,027 Add: Interest, net of amounts capitalized (1) 9,550 10,218 10,052 10,619 9,296 11,066 Appropriate portion of rent expense (1/3) 736 693 705 760 715 730 Dividends on preferred stock of subsidiary 0 0 0 0 0 0 ------- ------- ------- ------- ------- ------- Total earnings, as defined $50,932 $47,371 $42,744 $40,067 $36,019 $51,823 ======= ======= ======= ======= ======= ======= Fixed charges, as defined: Interest(1) $ 9,870 $10,441 $10,994 $10,969 $ 9,585 $11,565 Appropriate portion of rent expense(1/3) 736 693 705 760 715 730 Dividends on preferred stock of subsidiary 0 0 0 0 0 0 ------- ------- ------- ------- ------- ------- Total fixed charges, as defined: $10,606 $11,134 $11,699 $11,729 $10,300 $12,295 ======= ======= ======= ======= ======= ======= Ratio of earnings to fixed charges 4.80 4.25 3.65 3.42 3.50 4.21 ======= ======= ======= ======= ======= =======
------------ (1) Includes amortization of debt discount and expense.