EX-12.2 7 ex122earningstofixedcharge.htm EXHIBIT 12.2 Exhibit

Exhibit 12.2

LACLEDE GAS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
Nine Months
Ended
June 30,
 
Twelve Months Ended
September 30,
(Dollars in Millions)
2016
 
2015
 
2014
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
155.8

 
$
148.4

 
$
125.6

 
$
63.5

 
$
68.4

 
$
76.8

Add: Fixed Charges (from below)
29.5

 
39.7

 
39.5

 
28.1

 
26.7

 
27.3

Total Earnings
$
185.3

 
$
188.1

 
$
165.1

 
$
91.6

 
$
95.1

 
$
104.1

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
Interest on long-term debt
$
24.7

 
$
33.1

 
$
34.4

 
$
24.9

 
$
22.9

 
$
23.1

Other interest charges
3.3

 
3.3

 
3.0

 
1.2

 
2.2

 
2.4

One third of applicable rentals charged to operating expense (which approximates the interest portion)
1.4

 
3.3

 
2.1

 
2.0

 
1.6

 
1.8

Add back: Allowance for borrowed funds used during construction
0.1

 
—

 
—

 
—

 
—

 
—

Total Fixed Charges
$
29.5

 
$
39.7

 
$
39.5

 
$
28.1

 
$
26.7

 
$
27.3

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
6.28

 
4.74

 
4.18

 
3.26

 
3.56

 
3.81