NISOURCE INC. - FORM 10-K - EX-12 - February 26, 2010

Attached files

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EX-21 - EX-21 - NISOURCE INC.c55429exv21.htm
EX-23 - EX-23 - NISOURCE INC.c55429exv23.htm
EX-31.1 - EX-31.1 - NISOURCE INC.c55429exv31w1.htm
EX-32.1 - EX-32.1 - NISOURCE INC.c55429exv32w1.htm
EX-31.2 - EX-31.2 - NISOURCE INC.c55429exv31w2.htm
EX-32.2 - EX-32.2 - NISOURCE INC.c55429exv32w2.htm
EX-10.20 - EX-10.20 - NISOURCE INC.c55429exv10w20.htm
EX-10.14 - EX-10.14 - NISOURCE INC.c55429exv10w14.htm
10-K - FORM 10-K - NISOURCE INC.c55429e10vk.htm
Exhibit 12
NiSource Inc.
Ratio of Earnings to Fixed Charges
The ration of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines (a).
                                         
    Year ended December 31,  
    2009     2008     2007     2006     2005  
 
                              
Earnings as defined in item 503(d) of Regulation 
S-K:
                                        
Add:
                                        
Pretax income from continuing Operations (b)
   $ 381,711,851     $ 547,756,665     $ 453,435,772     $ 526,823,271     $ 428,984,984  
Fixed Charges
     423,724,907       422,708,986       436,701,099       419,858,840       448,424,856  
Amortization of capitalized interest (c)
     —       —       —       —       —  
Distributed income of equity investees
     2,924,805       7,941,413       44,134,385       21,974,949       3,384,404  
Share of pre-tax losses of equity investees for which charges arising guarantees are included in fixed charges
     —       —       —       —       —  
Deduct:
                                        
Interest capitalized (c)
     —       —       —       —       —  
Preference security dividend requirements of consolidated subsidiaries (d)
     —       —       —       1,670,297       6,448,732  
Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges
     (46,769 )     (5,307 )     (2,708 )     (5,443 )     (5,524 )
 
                              
 
                                        
 
   $ 808,408,332     $ 978,412,370     $ 934,273,964     $ 966,992,206     $ 874,351,036  
 
                              
 
                                        
Fixed charges as defined in item 503(d) of Regulation S-K:
                                        
Interest on long-term debt
   $ 386,737,382     $ 358,736,132     $ 353,404,387     $ 346,666,685     $ 385,598,925  
Other interest
     5,268,937       37,561,475       58,214,067       45,638,785       20,683,691  
Capitalized interest during period (c)
                                     —  
Amortization of premium, reacquisition premium, discount and expense on debt, net
     13,020,255       7,682,146       7,284,066       7,654,771       17,508,994  
Interest portion of rent expense
     18,745,102       18,734,540       17,801,287       18,233,745       18,190,038  
Minority Interest
     (46,769 )     (5,307 )     (2,708 )     (5,443 )     (5,524 )
 
                              
 
                                        
 
   $ 423,724,907     $ 422,708,986     $ 436,701,099     $ 418,188,543     $ 441,976,124  
 
                              
 
                                        
Plus preferred stock dividends:
                                        
Preferred dividend requirements of subsidiary
   $ —     $ —     $ —     $ 1,076,298     $ 4,233,611  
Preferred dividend requirements factor
     0.58       0.67       0.65       0.64       0.66  
 
                              
 
                                        
Preference security dividend requirements of consolidated subsidiaries (d)
     —       —       —       1,670,297       6,448,732  
Fixed charges
     423,724,907       422,708,986       436,701,099       418,188,543       441,976,124  
 
                              
 
                                        
 
   $ 423,724,907     $ 422,708,986     $ 436,701,099     $ 419,858,840     $ 448,424,856  
 
                              
 
                                        
Ratio of earnings to fixed charges
     1.91       2.31       2.14       2.30       1.95  
 
(a)   Income Statement amounts have been adjusted for discontinued operations.
 
(b)   Excludes adjustment for minority interest in consolidated subsidiaries or income or loss from equity investees.
 
(c)   NiSource is a public utility following SFAS 71 and therefore does not add amortization of capitalized interest or subtract interest capitalized in determining earnings, nor reduces fixed charges for Allowance for Funds Used During Construction.
 
(d)   Preferred dividends, as defined by SEC regulation S-K, are computed by dividing the preferred dividend requirement by one minus the effective income tax rate applicable to continuing operations.

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