PIEDMONT NATURAL GAS CO INC - FORM 10-K - EX-12 - EXHIBIT 12 - December 23, 2015

Attached files

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EX-21 - EXHIBIT 21 - PIEDMONT NATURAL GAS CO INCa20151031exhibit21.htm
EX-23.1 - EXHIBIT 23.1 - PIEDMONT NATURAL GAS CO INCa20151031exhibit231.htm
EX-32.1 - EXHIBIT 32.1 - PIEDMONT NATURAL GAS CO INCa20151031exhibit321.htm
EX-31.1 - EXHIBIT 31.1 - PIEDMONT NATURAL GAS CO INCa20151031exhibit311.htm
EX-31.2 - EXHIBIT 31.2 - PIEDMONT NATURAL GAS CO INCa20151031exhibit312.htm
EX-32.2 - EXHIBIT 32.2 - PIEDMONT NATURAL GAS CO INCa20151031exhibit322.htm
EX-10.5 - EXHIBIT 10.5 - PIEDMONT NATURAL GAS CO INCa20151031exhibit105.htm
10-K - 10-K - PIEDMONT NATURAL GAS CO INCpny-20151031x10xk.htm


 
 
 
 
 
 
 
 
 
 
Exhibit 12

 
 
 
 
 
 
 
 
 
 
 
PIEDMONT NATURAL GAS COMPANY, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
For Fiscal Years Ended October 31, 2011 through 2015
(in thousands except ratio amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
 
2014
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
  Pre-tax income from continuing operations
 
$
191,880

 
$
205,116

 
$
193,081

 
$
171,714

 
$
158,320

  Distributed income of equity investees
 
26,380

 
28,772

 
26,839

 
24,962

 
25,714

  Fixed charges
 
81,293

 
72,602

 
57,549

 
46,978

 
54,239

 
 
 
 
 
 
 
 
 
 
 
    Total Adjusted Earnings
 
$
299,553

 
$
306,490

 
$
277,469

 
$
243,654

 
$
238,273

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
  Interest
 
$
78,374

 
$
69,876

 
$
54,840

 
$
43,908

 
$
51,639

  Amortization of debt expense
 
1,304

 
1,171

 
1,029

 
1,401

 
1,063

  Amortization of loss - reacquired debt
 
238

 
238

 
238

 
238

 
99

  One-third of rental expense
 
1,377

 
1,317

 
1,442

 
1,431

 
1,438

 
 
 
 
 
 
 
 
 
 
 
      Total Fixed Charges
 
$
81,293

 
$
72,602

 
$
57,549

 
$
46,978

 
$
54,239

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
3.68

 
4.22

 
4.82

 
5.19

 
4.39




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