UGI UTILITIES INC - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - November 25, 2015

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EX-10.18 - EXHIBIT 10.18 - UGI UTILITIES INCex1018ugiutilitiesinc10-k.htm
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UGI UTILITIES INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - EXHIBIT 12.1
(Thousands of dollars)


 
Year Ended September 30,
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
Earnings before income taxes
$
200,539

 
$
207,929

 
$
171,010

 
$
142,971

 
$
168,693

Interest expense
40,400

 
37,897

 
38,578

 
41,599

 
41,668

Amortization of debt discount and
 
 
 
 
 
 
 
 
 
expense
728

 
575

 
731

 
814

 
1,060

Estimated interest component of rental
 
 
 
 
 
 
 
 
 
expense
2,728

 
2,398

 
2,090

 
2,121

 
1,740

 
$
244,395

 
$
248,799

 
$
212,409

 
$
187,505

 
$
213,161

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
40,400

 
$
37,897

 
$
38,578

 
$
41,599

 
$
41,668

Amortization of debt discount and
 
 
 
 
 
 
 
 
 
expense
728

 
575

 
731

 
814

 
1,060

Allowance for funds used during
 
 
 
 
 
 
 
 
 
construction (capitalized interest)
407

 
227

 
286

 
10

 
90

Estimated interest component of rental
 
 
 
 
 
 
 
 
 
expense
2,728

 
2,398

 
2,090

 
2,121

 
1,740

 
$
44,263

 
$
41,097

 
$
41,685

 
$
44,544


$
44,558

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
5.52

 
6.05

 
5.10

 
4.21

 
4.78




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