Attached files
| file | filename |
|---|---|
| EX-21.1 - EXHIBIT 21.1 - Columbia Pipeline Group, Inc. | cpgx-20151231xex211.htm |
| EX-32.1 - EXHIBIT 32.1 - Columbia Pipeline Group, Inc. | cpgx-20151231xex321.htm |
| EX-32.2 - EXHIBIT 32.2 - Columbia Pipeline Group, Inc. | cpgx-20151231xex322.htm |
| EX-31.1 - EXHIBIT 31.1 - Columbia Pipeline Group, Inc. | cpgx-20151231xex311.htm |
| EX-23.1 - EXHIBIT 23.1 - Columbia Pipeline Group, Inc. | cpgx-20151231xex231.htm |
| EX-31.2 - EXHIBIT 31.2 - Columbia Pipeline Group, Inc. | cpgx-20151231xex312.htm |
| 10-K - 10-K - Columbia Pipeline Group, Inc. | cpgx-20151231x10k.htm |
Exhibit 12.1
Columbia Pipeline Group, Inc.
Ratio of Earnings to Fixed Charges
December 31, 2015 | December 31, 2014 | December 31, 2013 | December 31, 2012 | December 31, 2011 | |||||||||||
Earnings as defined in item 503(d) of Regulation S-K: | |||||||||||||||
Add: | |||||||||||||||
Pretax income from continuing operations(1)(2) | $ | 400,022,618 | $ | 391,832,675 | $ | 382,318,903 | $ | 333,308,059 | $ | 311,174,194 | |||||
Fixed Charges | 106,114,018 | 65,365,429 | 44,984,288 | 32,043,502 | 30,907,607 | ||||||||||
Amortization of capitalized interest(3) | — | — | — | — | — | ||||||||||
Distributed income of equity investees | 57,243,010 | 37,800,000 | 32,125,000 | 34,850,000 | 18,750,000 | ||||||||||
Share of pre-tax losses of equity investees for which charges arising guarantees are included in fixed charges | — | — | — | — | — | ||||||||||
Deduct: | |||||||||||||||
Interest capitalized(3) | — | — | — | — | — | ||||||||||
Preference security dividend requirements of consolidated subsidiaries(4) | — | — | — | — | — | ||||||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | — | — | — | — | — | ||||||||||
$ | 563,379,646 | $ | 494,998,104 | $ | 459,428,191 | $ | 400,201,561 | $ | 360,831,801 | ||||||
Fixed charges as defined in item 503(d) of Regulation S-K: | |||||||||||||||
Interest on long-term debt | $ | 98,527,286 | $ | 61,560,284 | $ | 40,611,359 | $ | 26,060,109 | $ | 25,424,998 | |||||
Other interest | 4,467,154 | 3,805,145 | 4,372,929 | 5,983,393 | 5,482,609 | ||||||||||
Capitalized interest during period(3) | — | — | — | — | |||||||||||
Amortization of premium, reacquisition premium, discount and expense on debt, net | 3,119,578 | — | — | — | — | ||||||||||
Interest portion of rent expense | — | — | — | — | — | ||||||||||
Non-controlling interest | — | — | — | — | — | ||||||||||
$ | 106,114,018 | $ | 65,365,429 | $ | 44,984,288 | $ | 32,043,502 | $ | 30,907,607 | ||||||
Plus preferred stock dividends: | |||||||||||||||
Preferred dividend requirements of subsidiary | — | — | — | — | — | ||||||||||
Preferred dividend requirements factor | 0.67 | 0.61 | 0.65 | 0.62 | 0.62 | ||||||||||
Preference security dividend requirements of consolidated subsidiaries(4) | — | — | — | — | — | ||||||||||
Fixed charges | 106,114,018 | 65,365,429 | 44,984,288 | 32,043,502 | 30,907,607 | ||||||||||
$ | 106,114,018 | $ | 65,365,429 | $ | 44,984,288 | $ | 32,043,502 | $ | 30,907,607 | ||||||
Ratio of earnings to fixed charges | 5.31 | 7.57 | 10.21 | 12.49 | 11.67 | ||||||||||
(1) Income Statement amounts have been adjusted for discontinued operations.
(2) Excludes income or loss from equity investees.
(3) CPG follows FASB ASC Topic 980, Regulated Operations, 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.
(4) 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.