Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - NATIONAL FUEL GAS CO | d949257d8k.htm |
| EX-4.1.1 - EX-4.1.1 - NATIONAL FUEL GAS CO | d949257dex411.htm |
| EX-5.1.2 - EX-5.1.2 - NATIONAL FUEL GAS CO | d949257dex512.htm |
| EX-1.1 - EX-1.1 - NATIONAL FUEL GAS CO | d949257dex11.htm |
| EX-5.1.1 - EX-5.1.1 - NATIONAL FUEL GAS CO | d949257dex511.htm |
Exhibit 12.1
NATIONAL FUEL GAS COMPANY
COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES
UNAUDITED
| For the Six Months Ended March 31, 2015 |
Fiscal Year Ended September 30, | |||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
| EARNINGS: |
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| Income from Continuing Operations |
$ | 101,409 | $ | 299,413 | $ | 260,001 | $ | 220,077 | $ | 258,402 | $ | 219,133 | ||||||||||||
| Plus Income Tax Expense |
60,296 | 189,614 | 172,758 | 150,554 | 164,381 | 137,227 | ||||||||||||||||||
| Less Investment Tax Credit (1) |
(208 | ) | (434 | ) | (426 | ) | (581 | ) | (697 | ) | (697 | ) | ||||||||||||
| (Less Income) Plus Loss from Unconsolidated Subsidiaries |
— | (397 | ) | 204 | 1,442 | 759 | (2,488 | ) | ||||||||||||||||
| Plus Distributions from Unconsolidated Subsidiaries |
— | — | — | — | 4,278 | 2,600 | ||||||||||||||||||
| Plus Interest Expense on Long-Term Debt |
44,687 | 90,194 | 90,273 | 82,002 | 73,567 | 87,190 | ||||||||||||||||||
| Plus Other Interest Expense |
2,375 | 4,083 | 3,838 | 4,238 | 4,554 | 6,756 | ||||||||||||||||||
| Less Amortization of Loss on Reacquired Debt |
(265 | ) | (529 | ) | (721 | ) | (1,093 | ) | (1,093 | ) | (1,093 | ) | ||||||||||||
| Plus (Less) Allowance for Borrowed Funds Used in Construction |
616 | 900 | 827 | 1,231 | 1,037 | 323 | ||||||||||||||||||
| Plus (Less) Other Capitalized Interest |
2,191 | 3,560 | 1,801 | 2,992 | 1,516 | 1,056 | ||||||||||||||||||
| Plus Rentals (2) |
7,446 | 13,700 | 14,204 | 12,958 | 5,003 | 1,707 | ||||||||||||||||||
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| $ | 218,547 | $ | 600,104 | $ | 542,759 | $ | 473,820 | $ | 511,707 | $ | 451,714 | |||||||||||||
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| FIXED CHARGES: |
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| Interest & Amortization of Premium and Discount of Funded Debt |
$ | 44,687 | $ | 90,194 | $ | 90,273 | $ | 82,002 | $ | 73,567 | $ | 87,190 | ||||||||||||
| Plus Other Interest Expense |
2,375 | 4,083 | 3,838 | 4,238 | 4,554 | 6,756 | ||||||||||||||||||
| Less Amortization of Loss on Reacquired Debt |
(265 | ) | (529 | ) | (721 | ) | (1,093 | ) | (1,093 | ) | (1,093 | ) | ||||||||||||
| Plus (Less) Allowance for Borrowed Funds Used in Construction |
616 | 900 | 827 | 1,231 | 1,037 | 323 | ||||||||||||||||||
| Plus (Less) Other Capitalized Interest |
2,191 | 3,560 | 1,801 | 2,992 | 1,516 | 1,056 | ||||||||||||||||||
| Plus Rentals (2) |
7,446 | 13,700 | 14,204 | 12,958 | 5,003 | 1,707 | ||||||||||||||||||
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| $ | 57,050 | $ | 111,908 | $ | 110,222 | $ | 102,328 | $ | 84,584 | $ | 95,939 | |||||||||||||
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| RATIO OF EARNINGS TO FIXED CHARGES |
3.83 | 5.36 | 4.92 | 4.63 | 6.05 | 4.71 | ||||||||||||||||||
| (1) | Investment Tax Credit is included in Other Income. |
| (2) | Rentals shown above represent the portion of all rentals (other than delay rentals) deemed representative of the interest factor. |