Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - NATIONAL FUEL GAS CO | Financial_Report.xls |
| 10-Q - FORM 10-Q - NATIONAL FUEL GAS CO | l42546e10vq.htm |
| EX-31.2 - EX-31.2 - NATIONAL FUEL GAS CO | l42546exv31w2.htm |
| EX-99 - EX-99 - NATIONAL FUEL GAS CO | l42546exv99.htm |
| EX-32 - EX-32 - NATIONAL FUEL GAS CO | l42546exv32.htm |
| EX-31.1 - EX-31.1 - NATIONAL FUEL GAS CO | l42546exv31w1.htm |
EXHIBIT 12
NATIONAL FUEL GAS COMPANY
COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES
UNAUDITED
COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES
UNAUDITED
| For the Twelve | Fiscal Year Ended September 30, | |||||||||||||||||||
| Months Ended | ||||||||||||||||||||
| March 31, 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
EARNINGS: |
||||||||||||||||||||
(Thousands of Dollars) |
||||||||||||||||||||
Income from
Continuing
Operations |
$ | 249,189 | $ | 219,133 | $ | 103,484 | $ | 266,907 | $ | 201,248 | ||||||||||
Plus Income Tax
Expense |
157,573 | 137,227 | 52,859 | 167,672 | 131,291 | |||||||||||||||
Less Investment
Tax Credit (1) |
(697 | ) | (697 | ) | (697 | ) | (697 | ) | (697 | ) | ||||||||||
(Less Income)
Plus Loss from
Unconsolidated
Subsidiaries (3) |
(794 | ) | (2,488 | ) | (1,562 | ) | (6,303 | ) | (4,979 | ) | ||||||||||
Plus
Distributions
from
Unconsolidated
Subsidiaries |
4,578 | 2,600 | 2,900 | 8,280 | 1,613 | |||||||||||||||
Plus Interest
Expense on
Long-Term Debt |
81,184 | 87,190 | 79,419 | 70,099 | 68,446 | |||||||||||||||
Plus Other
Interest Expense |
6,232 | 6,756 | 7,370 | 3,271 | 4,155 | |||||||||||||||
Less
Amortization of
Loss on
Reacquired Debt |
(1,093 | ) | (1,093 | ) | (1,124 | ) | (1,156 | ) | (1,119 | ) | ||||||||||
Plus (Less)
Allowance for
Borrowed Funds
Used in
Construction |
502 | 323 | 1,174 | 2,100 | 374 | |||||||||||||||
Plus (Less)
Other
Capitalized
Interest |
1,555 | 1,056 | — | — | — | |||||||||||||||
Plus Rentals (2) |
1,700 | 1,707 | 1,867 | 2,229 | 2,685 | |||||||||||||||
| $ | 499,929 | $ | 451,714 | $ | 245,690 | $ | 512,402 | $ | 403,017 | |||||||||||
FIXED CHARGES: |
||||||||||||||||||||
(Thousands of Dollars) |
||||||||||||||||||||
Interest &
Amortization of
Premium and
Discount of Funded
Debt |
$ | 81,184 | $ | 87,190 | $ | 79,419 | $ | 70,099 | $ | 68,446 | ||||||||||
Plus Other
Interest Expense |
6,232 | 6,756 | 7,370 | 3,271 | 4,155 | |||||||||||||||
Less
Amortization of
Loss on
Reacquired Debt |
(1,093 | ) | (1,093 | ) | (1,124 | ) | (1,156 | ) | (1,119 | ) | ||||||||||
Plus (Less)
Allowance for
Borrowed Funds
Used in
Construction |
502 | 323 | 1,174 | 2,100 | 374 | |||||||||||||||
Plus (Less)
Other
Capitalized
Interest |
1,555 | 1,056 | — | — | — | |||||||||||||||
Plus Rentals (2) |
1,700 | 1,707 | 1,867 | 2,229 | 2,685 | |||||||||||||||
| $ | 90,080 | $ | 95,939 | $ | 88,706 | $ | 76,543 | $ | 74,541 | |||||||||||
RATIO OF EARNINGS
TO FIXED CHARGES |
5.55 | 4.71 | 2.77 | 6.69 | 5.41 | |||||||||||||||
| (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. | |
| (3) | Fiscal 2009 includes an impairment of an investment in a partnership of $1,804. |