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Exhibit 12
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Statements of Ratio of Earnings to Fixed Charges
($ in millions)
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<CAPTION>
Twelve Months Twelve Months
Ended June 30, Ended December 31,
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2000 1999 1999 1998 1997 1996 1995
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<S> <C> <C> <C> <C> <C> <C> <C>
Consolidated Income (Loss) from Continuing Operations
before Income Taxes 630.7 495.3 565.9 461.1 397.0 325.8 (650.5)
Adjustments:
Interest during construction (2.3) (2.7) (2.8) (2.1) (3.0) (1.1) (20.2)
Distributed (Undistributed) equity income (6.9) (2.5) (5.8) (0.4) 3.6 1.5 (7.9)
Fixed charges * 198.8 160.6 183.8 163.3 180.5 183.7 1,061.3
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Earnings Available 820.3 650.7 741.1 621.9 578.1 509.9 382.7
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Fixed Charges:
Interest on long-term and short-term debt 158.1 143.4 152.9 145.4 145.6 150.8 987.2
Other interest 24.5 1.2 14.9 1.4 15.2 13.5 53.6
Portion of rentals representing interest 16.2 16.0 16.0 16.5 19.7 19.4 20.5
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Total Fixed Charges 198.8 160.6 183.8 163.3 180.5 183.7 1,061.3**
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Ratio of Earnings to Fixed Charges 4.13 4.05 4.03 3.81 3.20 2.78 N/A(a)
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Prior periods have been restated to reflect discontinued operations.
(a) To achieve a one-to-one coverage, the Corporation would need an additional
$671.1 million of earnings for the twelve months ended December 31, 1995.
* Amounts for the twelve months ended December 31, 1995 through
December 31, 1999 have been restated to conform to 2000 presentation.
** This amount includes interest expense of $982.9 million including
the write-off of unamortized discounts on debentures recorded in 1995.
